Kiva Loan Number 20

Tante Veronica from Cameroon is repaying a Kiva loan

Location: Behind Pmi, Cameroon   Repayment Term: 20 months (more info)

Activity: Poultry   Repayment Schedule: Monthly

Loan Use: To buy food for sale and chicks for raising and selling

Veronica is married to Tante Nde Mathias and they have five children. She and her entire family are living in a house with three bedrooms. Being a very hard working woman, she has encountered some expenses in the family, such as the death of family members.

She runs a poultry business and sells foodstuffs with the support of her children and her husband. She will invest the loan in buying groundnuts, palm oil, three-week-old chicks, and fowl feed. With previous loans, she succeeded in providing her community with chickens for their social activities.

This will be her third loan from GHAPE; she joined GHAPE in 2007. She has been quite successful in the past with her business due to her location in mile 11 Bambui, the quality of her food, and her reasonable prices. She has a strong customer base and is confident that she will be able to increase her sales.

The part of the profits from this loan will be used to pay the school fees of her children; the other part will be used to expand the business. Veronica does not foresee a problem with her loan repayments. She intends to start repayment in the fourth month after taking the loan.

The Grounded and Holistic Approach to People’s Empowerment (GHAPE) is a non-profit NGO based in Bamenda, Cameroon. GHAPE works towards the empowerment of the poor and poverty alleviation through a highly multi-faceted approach. Every client is trained in business management, basic health, life skills, financial management, profits and losses, and family values. Clients are also required to contribute a small amount into a personal savings account; most clients save much more than the minimum requirement. GHAPE instils a sense of family and community within its clients and staff and has developed a strong bond of trust between the organization

(click to continue reading Kiva – Tante Veronica from Cameroon is repaying a Kiva loan.)

Country: Cameroon
Avg Annual Income: $2,421
Currency: Communauté Financière Africaine Francs BEAC (XAF)
Exchange Rate: 453.0

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