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Essowassi Group
In this Group: Magnine, Eyoufeideou, Agrigna, Soule, Djobo, Sakibou, Soulemanou, Kayi, Leh-Douna
The ESSOWASSI solidarity group is made up of male members. The group's president, Magniné, is 32 years old, married to a baker, and the father of four children. Two of his children currently attend school. His oldest child is 10 years old, and the youngest is 10 months.

Magniné is a teacher by training, but he has also been working as a farmer since 2005, in order to supplement his income. One member of this family and four employees help him to carry out his duties. He works in the central region and grows grains such as maize and beans.

In order to strengthen his activity and purchase the tools necessary for his business, he is requesting financial support from WAGES for the first time, because he feels that he can trust this institution.

His goal is to save enough money and, one day, increase the surface area of his arable land, build new buildings and ensure a good education to his children.

The other members of the group are involved in the same activity as their president.
View original language description ↓
Composé du genre masculin, le groupe de solidarité ESSOWASSI a pour président Magniné. Âgé de 32 ans, Magniné est marié à une boulangère et est père de famille de quatre enfants. Deux de ses enfants sont actuellement scolarisés. Son ainé a 10 ans et son plus jeune enfant est âgé de 10 mois. Magniné est enseignant de profession mais pour complément ses revenus il exerce aussi le métier de cultivateur depuis les années 2005 et se fait aider dans l’exercice de ses fonctions par un membre de sa famille et quatre employés. Son activité localisée dans la région centrale consiste à la culture des céréales tels le maïs et le haricot. Pour renforcer son activité par l’achat des outils nécessaires à son activité, Magniné sollicite pour la première fois le soutien financier de WAGES en qui il fait confiance. Il souhaite constituer assez d’épargne et dans les jours à venir augmenter sa superficie cultivable, construire de nouveaux bâtiments et assurer une bonne scolarité à ses enfants. Les autres membres du groupe exercent la même activité que leur président.

Additional Information

More information about this loan

This loan is part of a special WAGES program for groups of Togolese farmers and livestock breeders, offering financing at a lower interest rate in addition to relevant training. The reduced interest rate is designed to hit a sweet spot, empowering clients in rural Togo to capture significant, impactful profits and become more financially stable after three credit cycles. WAGES is working with the Togolese government, Veterinarians Without Borders and the African Institute for Economic and Social Development to make this program possible. By supporting this loan, you're extending opportunity in a country where 70% of the population works in agriculture but financing options remain scarce.

About Women and Associations for Gain both Economic and Social

This loan is administered by Women and Associations for Gain both Economic and Social (WAGES), Togo’s second-largest microfinance institution. Along with a wide range of savings and loan products, WAGES offers its clients training programs in basic literacy, health care (HIV/AIDS and malaria), and business-related subjects (business management, marketing, accounting). You can show your support for WAGES by joining its lending team!

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Togo

  • $1,500
    Average annual income
  • 5
    View loans »
    Togo Loans Fundraising
  • $8,964,875
    Funds lent in using Kiva
  • 510.0
    Communauté Financière Africaine Francs BCEAO (XOF) = $1 USD