A loan of $800 helped to purchase assorted goods.

Abou's story

Mr. Abou is 35 years old, married, and a father of two. He lives with his family in Bougoula Hameau, a rural town in Sikasso (the third administrative district in the Republic of Mali).

After having tried several businesses without success, Mr. Abou taught himself how to run a business; he has a shop in front of his family home. He has been purchasing and selling assorted goods (cigarettes, candy, matches, chewing gum, powdered milk, tea, sugar, soap, etc.) for six years now. He is highly sought after by his customers for the quality of his products.

To satisfy his growing customer base, Mr. Abou decided to join the microfinance institution Soro Yiriwaso six months ago. He is on his second individual loan.

Mr. Abou sells his wares for cash and on credit to a group of customers made up of men and women.

With this new loan, he plans to purchase five cartons of various cigarettes, three boxes of tea, two bags of sugar, five packages of candy, 10 packages of chewing gum, 30 packages of matches, and 10 boxes of soap. Mr. Abou gets his supplies from market wholesalers prior to selling them at retail.

With this loan, Mr. Abou expects to turn a monthly profit of 100,000 CFA francs, which will be used to contribute to the family expenses and to pay the interest on his loan; the rest will be invested in his business.

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Translated from French by Kiva volunteer Jessalyn Pinneo

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