A loan of $1,050 helped a member to buy sacks of peanuts and sacks of dried baobab leaves.

Kotognontala (Soyons Unie) Group's story

The ten women in the Kotognontala group are all married and average 42 years of age and 5 children. The members of the group live in large extended traditional families in the Massakina neighborhood (village of Dah, San Prefecture, in the Ségou Region, Republic of Mali). They got acquainted through bonds of neighborhood and kinship. They are in the same field of business, selling peanuts and powdered baobab leaves. They are very much in demand in this business.

To meet an ever-increasing customer demand, the group solved his problems by joining Kiva's partner, the microfinance organization Soro Yiriwaso, from which it is seeking its first solidarity loan (group loan). The women intend to use the loan to buy sacks of dried baobab leaves and sacks of peanuts at the local market. These products are sold wholesale at the San market and in Bobo (in Burkina Faso). During this cycle, they hope to turn an average profit of XOF 60'000 (ca US$ 120) each, to be used to repay the loan, and to provide for their extended families. They will invest the remainder in their businesses. They ambition to have a sufficient working capital to start selling pagnes (colorful African cloth) in Bobo.

In this group: Mamou, Djenèba, Teingna, Sali, Tata, Bakadia, Karia, Abita, Fanta, Fatoumata

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Translated from French by Kiva volunteer Patrick Stadelmann

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