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A loan of $450 helped to buy cereals (maize and sorghum).

Siaka's story

Mr. Siaka Koné is 30 years old and lives with his 3 children and wife in a monogamous household in Noumouso, one of the districts in the city of Kadiolo (in the Sikasso Region of the Republic of Mali).
After trying several business activities without success, he has specialized in the purchase and sale of cereal products (maize, sorghum, millets, rice, groundnuts, etc) for several years now.
In his search for supplementary financial resources in order to satisfy the needs of his increasingly growing clientele, he decided to join the credit program run by the microfinance institution Soro Yiriwaso, which whom he is seeking his first loan.
With this loan, he intends to buy 600kg of maize and 400kg of sorghum on-the-spot from the cereal producers in Kadiolo and in the surrounding villages, generally during the weekly fairs.
He most often re-sells the grains wholesale in cash to buyers who come from large cities such as Bamako (the capital of the Republic of Mali) or Sikasso. He also sometimes sells at retail in cash in the city of Kadiolo. The majority of his clientele consists of men.
He foresees realizing a monthly profit of 60,000 FCFA, which he will use to pay off the loan, investing the remainder in his business.

Translated from French by Kiva volunteer

Loan details

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Loan details