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:

Nigeria:   Buhari Returns After More Than 100 Days in London (news)
The Guardian
19 August 2017

Nigeria's president Muhammadu Buhari has returned to the country after more than 100 days in the United Kingdom, where he received treatment for an undisclosed ailment. The presidential jet that ... [read more]

Southern Africa:   No Grace Mugabe as SADC Summit Opens in Pretoria (news)
News24Wire
19 August 2017

Zimbabwe's First Lady Grace Mugabe was not among the first spouses that arrived a few minutes ahead of the opening of the Southern African Development Community summit in Pretoria on Saturday. Several ... [read more]

South Africa:   Minister Who Admitted Hitting a Woman Resigns (press release)
Government of South Africa
19 August 2017

President Jacob Zuma has received and accepted the resignation of the Deputy Minister of Higher Education and Training, Mr Mduduzi Manana. The President has thanked Mr Manana for his contribution to ... [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!