Makarimal Akhlakh Gpe 45 Group
The purpose of this EIG is to allow its members to engage in various activities: agricultural and fisheries production, general trade imports and exports, transportation, industry, crafts, building industry, livestock breeding, mining, transportation for the fishing industry, exploitation of hydrocarbons, art, culture, printing, carpentry services, public service activities, representation, processing of fishery products, agriculture, sale of spare parts, ice-making, bakery and delivery services.
The group is represented nationally by Mrs. Ramatoulaye Faye who has signed an agreement with UIMCEC regarding funding for its members which would allow them to acquire material and financial resources to further develop their activities.
Consequently Makarimal Akhlakh group 45 is a GIE credit subgroup, composed of 10 women represented by lady Fatou (the one with the raised hand on the photo). They all work in the same area of activity.
Fatou is a married woman who has been active for more than 10 years in retail commerce, selling food products. She starts each day's activities at 9 am in the morning to finish at 7 pm. She is a member of one of the branches of UIMCEC where she is requesting a loan to purchase canned goods destined for sale.
She wants to further develop her trade activity. The income provided enables her to save money to eventually acquire a canteen. With the increased profits she also wants to contribute towards improving her family's nutritional well-being.
More information about this loan
To reach women borrowers who would not normally qualify for loans, UIMCEC has developed partnerships with a number of local organizations created by the poor to promote savings and mutual support. Previously, UIMCEC was unable to serve these borrowers because they could not provide a guarantee or afford to pay standard interest rates. By supporting this loan, you are helping poor borrowers access credit at lower interest rates.
About UIMCECThis loan is administered by UIMCEC, a Kiva Field Partner in Senegal since 2008. UIMCEC is a government-regulated microfinance institution whose mission is to improve the revenue and well-being of families through access to financial services, allowing principally women and young adult micro-entrepreneurs living in rural and semi-rural areas to develop their revenue-generating businesses and supporting them in becoming financially self-sufficient.
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.
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