A loan of $1,975 helped a member to buy grain and condiments.

Nikanou (La Passion) Group's story

The five women of the group Nikanou are all married and average 45 years of age and 5 children each. They live in large traditional extended families in the Lafiabougou district of the city of San (Ségou region, Republic of Mali). And they known one another through ties of community and kinship.

The group members work in the same business of buying and selling grain, notably rice and various ranges of condiments. The women are in high demand in this domain. In order to satisfy the needs of their continuously growing customer base, the group members decided to join the micro-finance institution Soro Yiriwaso, with which they are on their seventh solidarity loan (group loan). All the preceding one have been correctly repaid.

The women intend to use this loan to buy tonnes of rice and a sizable quantity of condiments: onions, chili peppers, garlic, spices, soumbala (made of crushed fermented seeds or beans), and more. Supplies are gotten from rural producers (for the rice) and from wholesale merchants locally and from fair vendors from Sikasso (for the condiments). Sales are made at the retail level, cash or credit accepted, at the house and the San marketplace. The customers are composed of retailers and women.

They each hope to realize an average profit of 300,000 francs CFA in the course of this cycle. The profits will be used to pay the loan interest, to provide for the extended family, and to invest the rest in business. The ambition of the group members is to open a supply store in San.

In this group: Basofing, Assitan, Bintou, Nana, Fanta

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Translated from French by Kiva volunteer Daniel Kuey

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