News

02.14.2011

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MicroWorld

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« With MicroCred I could finally open the shop I always dreamed of. »

Toumani Touré is a young shopkeeper who opened a beauty products and women’s accessories shop less than one month ago at Ouest Foire (Senegal). The shop is located in a street that is famous for its garments stores.

He started business when he was a student in the 2000’s. At that time he sold teeth brushes and tooth paste to his classmates and also worked as a trolley man during Summer holidays. His ambition was to continue his studies with a MBA in the United States, but the administrative procedures failed. He then decided to quit and permanently run his business.

At the beginning he bought second hand garments that he ironed and sold. “I had to tighten my belt in order to save money and buy stock.” He says.

When his sister who lives in the United States saw his willingness and the energy he devoted to develop his activity, she decided to help him and sent directly to him cosmetic products, handbags, perfume, shoes and other women’s articles. In return, Toumani had to reimburse her expenses, after he had sold the stock.

He heard of MicroCred through one of his friends who works in the microfinance institution. He first started with a savings account and rapidly felt the need for borrowing to, at last, open his shop.
This now has been done, with a FCFA 600 000 (€920) loan that MicroCred granted him and that allowed him to rent a shop and invest in some decoration. His shop INNAH HOUSE has opened for about a month and every 10 minutes a client comes in. This shop represents a huge increase in his activity: he doesn’t have to unpack his goods from boxes at each sale since it is now nicely exposed and his sales are now paid cash instead of taking orders on credit, with all the disadvantages of the practice.

What about his future goals?
“I want Innah House to become an important Senegalese company and create partnerships with American firms.”
He also wishes to involve his family in the store’s management.

Traduction : Seforah Benhamou

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