J'ai suivi une formation en couture, mais avec la saturation de l'activité, j'ai décidé de trouver une autre activité en parallèle. C'est en 1999 que j'ai …
Sales
Senegal
Loan amount €460
Funded 100%
by 9 members
Loan fully repaid by the entrepreneur
Disbursement date: 11/01/2012
Final repayment of the loan: 09/01/2013
| MicroWorld's investors have funded: | €460 |
Cheikh Ahmadou Tidjani - Purchase garments
Borrower
First name:
Cheikh Ahmadou Tidjani
Gender:
Male
Age:
38
Marital status:
Married
Number of children:
1
Region:
HLM
Loan Request
Purpose:
Purchase garments
Amount:
€460
Duration:
10 months
Loan type:
in fine
The loan is reimbursed in one installment at the maturity date of the project (principal and possible interests).
Note: additional time may be necessary for the funds to be credited on the lenders' accounts due to delays in international transfers.
Borrower's quote
J'ai suivi une formation en couture, mais avec la saturation de l'activité, j'ai décidé de trouver une autre activité en parallèle. C'est en 1999 que j'ai commencé à travailler dans la photographie également ce qui me donne un revenu complémentaire. Aujourd'hui, je suis retourné sur mon ancienne activité et j'ai ouvert un magasin de prêt-à-porter. J'envisage d'augmenter mes stocks, avec le soutien de MicroCred, afin de répondre à la demande des clients. Je souhaiterais que mes deux activités s'améliorent en même temps, pour que je puisse devenir indépendant financièrement et mettre ma famille dans de bonnes conditions.
Economic and social context
Senegal
The relative economic and political stability in modern Senegal is a significant feat attributed to the country's growth through microfinance.
| 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 |
MFI Status
- Partnership status: Confirmed
- Credit score:
- Time on MicroWorld: 143 months
- Repayment rate: 100%
Rates and transparency
- This loan does not pay any interest to the lender.
- Following your loan commitment, you have 7 calendar days to assert your right of withdrawal, by mail at contact@microworld.org.
- The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.
- 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.
- The platform 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.
| Date | 31/12/2014 |
| Legal Status | NBFI (Non Bank Financial Institution) |
| Number of Borrowers | 35,650 |
| Portfolio Size | $73,552,999 |
| PAR (Portfolio at Risk) | 1.36% |
| R.O.A (Return on Assets) | 3.69% |
| Average loan / GNI per capita | 131% |
| % of female borrowers | 59% |
| Saving accounts opened | Every client |
| Collaterals required | Co-surety |
| Loans for social purposes | No |
