RSS Newsfeeds

See all RSS Newsfeeds

Global Regions

Africa ( XML Feed )

Aug 7, 2016 1:11 EDT

Mali – Soroyiriwaton Group: A loan of $2,725 helps a member to purchase a supply of peanuts to resell.

iCrowdNewswire - Aug 7, 2016

Soroyiriwaton Group

Yangasso, Mali / Cereals
Borrower image

Soroyiriwaton Group’s story

Djomine, the featured borrower, is pictured in the centre of the photo with her hands in the peanuts. She is a Malian widow and mother of five children, two of whom currently attend school.

For 15 years, Djomine has earned a living running a small business selling peanuts. She purchases her stock in the local markets, then resells them in the same markets. Thanks to the profits from her sales, she is able to support her children’s daily needs.

Djomine sometimes struggles during times of slow sales. A creditworthy borrower, she partners with RMCR in order to fund large purchases of peanuts to sell. She hopes this loan will allow her to further grow her business.

In this group: Salimata Baba, Mayama, Kotimi, Aïssata, Djomine, Sali Dramane, Minata, Satou, Kadiatou, Sitan, Salimata Madou, Fatoumata, Djeneba, Karia, Kadiatou, Bintou*, Nene
*not pictured

Show previous loan details

Translator profile picture

Translated from French by Kiva volunteer Willow King 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 community bank loan program. Borrowers are organized into groups of 10-35 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 $2,725 helps a member to purchase a supply of peanuts to resell.

Contact Information:

Soroyiriwaton Group

View Related News >