Personal history : Mrs. Diallo of Kayes, Mali
Mrs. Diallo has been a member of MFI Nyesumaso for more than two years. She took out her fourth loan, amounting to 35,000 FCFA (about €50). Thirty years old and married, Mrs. Diallo has 6 children in school and lives in the Liberté neighbourhood of Kayes.
Mrs Diallo is the owner of a small restaurant located near the high school. She uses daily profits to buy condiments.
Taking loans from Nyesumaso has enabled Mrs. Diallo to buy in bulk : either the rice or charcoal, but not both. This way, she benefits from better prices and higher profit margins.
Mrs Diallo has also diversified into traditional outfits. Kayes is known for its high quality loin clothes, reputed to be the most beautiful in Mali.
She saves money on a regular basis, depositing about 1 000 FCFA at Nyesumaso once a week. She usually withdraws her savings at the end of the loan cycle to boost her working capital.
Nyesumaso was created by CAMIDE, with support from CIDR, in 2005. The word means “House of Comfort” in Bambara. It offers solidarity-group lending to the poor women of Kayes.
As of December 2008, Nyesumaso has more than 3000 clients. A study conducted in June 2008 concluded that access to loans has had a genuine impact on clients’ standard of living, reducing dependence on supplier credit and consequently improving profit margins. Most clients developed and/or diversified their activities, thus increasing earnings.