Nankouloubou Microcredit Association

From Timbuktu Chronicles Mon Dec 10 2012, 02:35:00

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:

West Africa:   Women Disproportionately Affected By Ebola (news)
Voice of America
22 September 2014

More than half of all Ebola cases in West Africa have been adult women. But aid agencies say women are also the most affected by border closures and travel restrictions, as they carry out most of the ... [read more]

Africa:   The AU's Ebola Mission - It's Not All About the Money (analysis)
Institute for Security Studies
22 September 2014

More than six months have passed since the Ebola epidemic was officially declared in Guinea. In this time, very little help has come from African institutions, individuals and non-governmental ... [read more]

Africa:   The Battle for Seed Independence, Food Security and Sovereignty (analysis)
The South African Civil Society Information Service
22 September 2014

In order to address Africa's poor agricultural productivity international players are intent on criminalising traditional seed saving practices. This thrust is directed by a triumvirate of corporate ... [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!