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Aug 27, 2016 2:31 EST

Mali: Benkan Touba Group – A loan of $1,550 helps a member to raise cattle and sheep to resell.

iCrowdNewswire - Aug 27, 2016

Benkan Touba Group

Mali
 
SOUROUTOUNA, Mali / Livestock
 
Borrower image
 

Benkan Touba Group’s story

Souleymane raises cattle and sheep and is the one holding the ram in the photo. He is 36 years old and lives in Mali. He is married and the father of seven children, aged from three to 10 years old. Among the children, one is a daughter, and one attends school.

Souleymane has raised livestock for five years. He buys and sells his animals in the local markets. He is seeking a loan with RMCR to expand his livestock farming. The loan will serve to support his family’s needs, especially related to healthcare, clothing, etc.

After his sales, he will be able to earn an average 30,000 francs CFA.

Souleymane has made his repayments correctly over the last three years as a client with RMCR.

His dream and hope is to become a large livestock farmer in his area.

In this group: Zana, Souleymane, Seydou
*not pictured 

Translator profile picture

Translated from French by Kiva volunteer Lindsay FerraraView 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 $1,550 helps a member to raise cattle and sheep to resell.

Contact Information:

Benkan Touba Group

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