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:

South Africa:   'Pay Back the Money,' MPs Tell Zuma (news)
The Daily Vox
21 August 2014

Between the red uniforms, the hallway scuffles with opposition MPs and the sit-ins at the Gauteng provincial legislature, you can always count on the EFF to bring a bit of excitement to the political ... [read more]

West Africa:   Govt Issues Travel Bans Over Ebola Fears (news)
South African Press Association
21 August 2014

Cabinet has issued an immediate travel ban for non-South Africans from countries affected by the Ebola virus outbreak, Health Minister Aaron Motsoaledi said on Thursday. [read more]

South Sudan:   Does South Sudan's Peace Process Face Collapse? (document)
Institute for Security Studies
20 August 2014

On 21 August 2014, the Peace and Security Council (PSC) will consider the situation in South Sudan. With no progress achieved since its last session on South Sudan on 12 June 2014, at this session the ... [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!