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:

Nigeria:   Troops Rescue 5000, Kill 10 Insurgents (news)
The Guardian
26 June 2016

Troops of the Nigeria military in collaboration with other security agencies and vigilante in the counter-insurgency operation in the Northeast rescued 5000 people held hostage by Boko Haram ... [read more]

Kenya:   Players Begin Plans to Increase Forest Cover (news)
The Nation
26 June 2016

Stakeholders in forestry initiatives have endorsed a new plan that outlines specific measures to be undertaken across sectors to increase Kenya's forest cover to 10 per cent in the next 15 years. They ... [read more]

Africa:   Small Firms Can Provide Jobs, but Big Firms Are Key to Growth (analysis)
The Conversation
26 June 2016

Almost all developing countries have policies to promote small and medium-sized firms. The reasons for this choice are clear. Small firms appear to create lots of job with relatively little capital ... [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!