A loan of $525 helped a member purchase of foodstuffs for re-sale.

Kotognontala (Mutual Compromise) Group's story

The members of Kotognontala are married women living in general in traditional extended polygamous families with an average age of 42 and 3 children on average. They live in the Sokala neighborhood of the village of Zambougou Fouta in the Ségou Region, Republic of Mali. Linked by ties of profession, friendship, and proximity, they sell condiments and foodstuffs.

They generally purchase the foodstuffs in the village of Zambougou and the surrounding villages such as Dougabougou, Benembougou, Fombougou, Teisserela and Ganssola and store their merchandise in their homes. On the other hand, condiments are bought in the big market in Ségou from wholesalers who come to the weekly market days.

They re-sell these articles retail, for cash or credit, on market days, or door-to-door, or out of their homes. Their clientele is generally made up of women and men.

So as to satisfy the needs of their ever growing clientele, the members of the Kotognontala group have decided to ask for a group loan from the micro-finance institution Soro Yiriwaso with whom they are presently on their first loan.

With this loan they intend to buy 2 sacks of 50 kg each of rice, a large amount of condiments, and a sack of dried beans. They hope to make a monthly average profit of 7.500 FCFA which will be used to make the payments on the loan, to bolster their working capital, and to help cover family expenses.

In this group: Binta, Kadiatou, Mamba, Kadiatou, Maramou, Adiara, Sanatou, Minta, Fatoumata

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Translated from French by Kiva volunteer Teresa Kramer

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