J'ai débuté mon activité de commerce de bijoux, avec l'appui de mon mari. J'ai eu à bénéficier des prêts dans d'autres institutions de microfinance de la...
Selling jewelry
Senegal
Loan amount 240€
Funded 100%
by 6 members
Disbursment date to the MFI: 03/01/2012
Final repayment of the loan: 11/01/2012
| MicroWorld's investors have funded: | 240 € |
Arame NDIAYE - Purchase more stock
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J'ai débuté mon activité de commerce de bijoux, avec l'appui de mon mari. J'ai eu à bénéficier des prêts dans d'autres institutions de microfinance de la place, mais MicroCred est la seule à traiter les dossiers dans une courte durée et presque sans garanties. C'est pour cette raison que je viens solliciter un financement pour mon fonds de roulement, afin d'améliorer mon activité.
Economic and social context
Senegal
| Population | 12 534 228 |
| GNI per capita | 1 030 $ |
| Economic Growth | 3,30% |
| Poverty rate (less than 2 USD/ day) | 60,4% (en 2005) |
| Unemployment rate | 11,10% |
| Literacy rate (above 15 years of age) | 42% |
| Life expectancy | 56 ans |
Rates and transparency
- This loan is at 0% and does not pay any interest to the lender.
- 100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.
- The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.
- MicroWorld earns a commission from the MFI for the service it provides, which helps to fund its running costs.
- More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.
The MFI
MicroCred Senegal
MicroCred Senegal’s mission is to support Micro, Very Small, and Small-to-Medium Enterprises in their development through providing financial services that are appropriate to their needs. By taking a personalized approach, MicroCred Senegal assists merchants, artisans, and service providers in expanding their businesses by financing their income generating activities.
| Legal status | NBFI (Non-Bank Financial Institution) |
| Number of borrowers | 15,896 |
| Gross loan portfolio | USD 21,290,144 |
| Average loan balance | USD 1,339 |
| Average interest rate for borrower | 1% per month |
| Number of personnel | 206 |
| PAR (Portfolio at Risk) | 1.0% |
| Average loan / GNI per capita | 131% |
| % of female borrowers | 59% |
| Saving accounts opened | Every client |
| Collaterals required | Co-surety |
| Loans for social purposes | No |
| GIPSIE rating by PlaNis | 3/5 |
Investors on the project
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