A loan of $1,950 helped a member purchase of fresh fish and food-grade ice.

Nyètaa (Essor) Group's story

The nine (9) women of the Nyètaa Group (made up of 3 widows and 6 married women) have an average age of 45 years and have three children living in large traditional extended families in the Bozo quarter in the Markala sous-prefecture (in the Ségou region of Mali). They belong to an ethnic group known for fishing (Bozo) and are involved in the selling of various forms of fish (fresh, smoked, or dried). In addition, they also sell clothing and cups.

In order to keep up with ever-increasing customer demand, the group has decided to get help from the Soro Yiriwaso microfinance institution, with whom they are on their third solidarity (or group) loan. All of their previous loans have been repaid in full. They are planning to use this loan to purchase 938 kg of fresh fish and 35 cakes of ice. They purchase their fresh fish from the fishermen on-site on the banks of the Niger River in Markala. Some of the fish is sold while it’s fresh and some is smoked in a converted area on the family land in buildings specially designed for this job. The women take the smoked fish to Bamako (the capital of Mali) to be sold to resellers wholesale and for cash. When they return from Bamako they buy clothing and cups that they will sell in the markets of Markala, Niono, and Siribala to a customer base made up of men and women.

They each hope to make an average monthly profit of 40,000 FCFA which will be used to pay the interest on the loan and to take care of their extended family. The rest will be reinvested into their business. They would like to diversify their business by branching out into other income-generating areas such as the sale of dried cereals.

In this group: Fah, Dicko, Mata, Mamou, Fatoumata, Mah, Kossa

Translated from French by Kiva volunteer Manuel Carreiro

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Loan details