Nankouloubou Microcredit Association

From Timbuktu Chronicles Mon Dec 10 2012, 07:35:00

In MakingIt, Olivier Nyirubugara reports on a self initiated micro credit initiative:

Women in south-western Burkina Faso have engaged in informal but prosperous trade in the last couple of years thanks to capital they raised and then fructified in the form of self-initiated, self-run microcredit. Since the introduction of the concept of microcredit in Bangladesh by Professor Muhammad Yunus and the Grameen Bank, this path has frequently been suggested as one of the most effective cures for poverty. The suggested model implies a financial institution, generally a bank, which determines the rules of the game that the applicants need to comply with in order to have access to microcredit. However women in and around the town of Léo, some 160 km southwest of the capital, Ouagadougou, have developed an alternative,bank-less system whereby capital comes from, and returns to, the beneficiaries themselves.

The Nankouloubou association's self-initiated and self-run initiative shows that microcredit is, indeed, one important way to eradicate poverty. Unlike the bank-based microcredit counterpart, this completely homegrown solution presents a number of challenges. The association-based microcredit is manually managed, which raises issues of accuracy and exposes the entire process to calculation errors. Idayatou, the ...

[view whole blog post ]
 See More    |     Report Abuse


You might also be interested in the following news stories:

Africa:  Hasta La Visa - When Travelling Takes a Wrong Turn (news)
allAfrica.com
19 October 2017

We all know traveling is great - learning about new places and cultures while posting selfies to make friends on Facebook jealous is always fun, but what about when it's not? Sometimes things go ... [read more]

Somalia:  Tens of Thousands March to Protest Mogadishu Bombing (news)
Voice of America
19 October 2017

Tens of thousands of people took to the streets of Mogadishu and other major Somali cities on Wednesday, condemning those behind the massive explosion that killed nearly 300 people and wounded more ... [read more]

Uganda:  Age Limit Rallies - 8 Things Police Have Banned (news)
The Monitor
18 October 2017

The raft of instructions issued by Mr Asuman Mugenyi, the director operations, directly target members of Parliament and gives wide powers to District Police Commanders (DPCs) to deal with them ... [read more]



blogAfrica is allAfrica.com's platform to help you keep an ear on the African blogosphere. We draw diverse voices from around the world who post regularly and insightfully about African issues. Bloggers, submit your blog's rss-feed!