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:

Afrique:   A la quête de résultats de recherche immédiatement utilisables pour le développement durable (news)
26 November 2015

Les chercheurs africains sont priés de fournir les résultats de leur travail au profit du développement économique et social du continent. L'invite a été ... [read more]

Africa:   How Esusu, Saccos and Stokvels Can Promote Entrepreneurship (analysis)
The Conversation
25 November 2015

Lack of funding is one of the major challenges in the development of micro enterprises in sub-Saharan Africa. One of the ways small business holders survive is by belonging to informal interdependent ... [read more]

Africa:   Child Brides to Soar By 2050 As Population Grows - UN (news)
Thomson Reuters Foundation
26 November 2015

The number of child brides in Africa will more than double by 2050 if current trends persist because of rapid population growth and limited social change, the United Nations children's fund (UNICEF) ... [read more]

blogAfrica is'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!

Today's Featured News
Mozambique Ruling Party Faces Tough Contest

Renamo supporters: Ruling Frelimo faces a stern challenge at Wednesday's polls from...

Surge in Central African Republic Violence

African Union troops in Bangui (file photo): The UN has expressed alarm...

Nigeria, Cameroon, Ghana Get Crucial Wins

Asamoah Gyan of Ghana (file photo): The Super Eagles have boosted their...