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Jul 26, 2016 6:19 EST

Mali – Yankadi Group: A loan of $3,975 helps a member to purchase sheep to sell later.

iCrowdNewswire - Jul 26, 2016

Yankadi Group

Mali
 
Kimparana, Mali / Livestock
 
Borrower image

Yankadi Group’s story

Issouf is a livestock farmer of sheep and steers. He is the one holding the sheep’s horns in the photo. He is 57 years old, married, and the father of five children, aged 11 to 33. Issouf is illiterate, but he is concerned about his children’s schooling. His wife is a homemaker and also works in commerce.

Issouf has turned to RMCR loans to purchase many sheep and steers for his livestock business in order to generate more profit. He manages to cover his children’s medical and schooling costs and a few necessary family expenses, thanks to the profits generated from the loan.

Issouf gets his supplies from the San market and from his town. He can have 50,000 francs CFA per month in income as profit. His sales are made at the market in his town. He has been in this business for thirty years. The obstacles he runs up against include his animals possibly dying before they are sold; and the high cost of animal feed.

In this group: Issouf Dosso, Harouna, Youssouf, Adama, Sekou, Mamadou, Samba
*not pictured 

Translator profile picture

Translated from French by Kiva volunteer Daniel Kuey View original language description 

This loan is special because:

It empowers farmers and entrepreneurs in underserved areas in Mali. 

Nadia Costanzo
Kiva staff 

More about this loan

This loan is part of RMCR’s solidarity group loan program. Borrowers who have successfully completed several loan cycles with the community bank program graduate to this one and access slightly larger loans in groups of 2-9 members. Group members are mutually responsible for repayments and can access voluntary savings services. Group members can use loans for any income-generating activity. Common activities are farming, raising livestock and commerce. Terms and payment frequency can vary according to borrowers’ business cycles. By supporting this loan, you’re helping borrowers access credit and support each other through the loan process.

About Réseau de Micro-institutions de Croissance de Revenus (RMCR):

Réseau de Micro-institutions de Croissance de Revenus (RMCR) is an NGO that provides credit to low-income communities in rural Mali. The organization offers community bank loans, from which borrowers can graduate to solidarity groups, and from there to individual loans. RMCR customizes the loans it offers in order to fit the unique business cycles of livestock, farming, and commerce activities.

A loan of $3,975 helps a member to purchase sheep to sell later.

Contact Information:

Yankadi Group

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