Our Congo country manager, Texa Dembele, emailed to tell us about one of the people who are now earning a livelihood thanks to our Farmers to Markets microenterprise program.
Mrs. Genzambe Gulia William received a loan from the Loko office among the small wholesalers. The small wholesalers receive money, not more than $ 100. We have now in Loko 10 small wholesalers. Mrs. Genzambe Gulia’s husband died and she has 2 children. One already finished the secondary school and the second is now in the third level of primary school. Since her husband died, she is staying at her uncle’s house. She works on a small business to take care of her children, selling at the Loko market.
She got money from FTM at Loko on November 17th and signed an agreement to pay back 3 months later with 2% interest per month. She had 37 000 FC [Congolese Francs] as capital before getting the loan from the Loko office. Her loan was 90 000 FC (like $ 100). She went to Maniko village, located around 20 km from Loko when you are going to Gbadolite, and bought 10 oil cans holding 25 liters each. All the oil cans and the transportation cost her 127 000 FC. FYI: She used a bicycle from one of the [FTM] bicycle entrepreneurs, and the transportation cost was 5 000 FC.
When she sold the oil, she got 210 000 FC. She paid directly back the loan of 90 000 FC and took off her starting capital, 37 000 FC. She had 83 000 FC net profit. Then she bought 3 cans of her own for 15 000 FC (before, she borrowed cans from a neighbor). She bought semolina for her children, it seems that it is nutritional, for 15 000 FC, and she bought cloth for herself. She ended up with new capital of 57 000 FC.
Now she is coming to the Loko office to get a new loan. She told me that she will change the product for selling – she will now buy coffee because the price of oil is going down now. The price of coffee is going up because everybody in the morning drinks coffee before they go to the farm. Presently in the Ubangi area it is the dry season, and it is cold in the morning and in the evening. She will go 10 km to buy coffee beans that cost there 800 FC per measuring unit. In Loko the same measure sells for 1 200 FC.
Now Mrs. Genzambe Gulia William is working as a small wholesaler from the Loko Office. She has asked the Loko office if she can increase her loan to $ 150. She thanks the leaders of the Project for bringing FTM into the Loko area, and encourages all the donors that their money is serving someone, somewhere faraway in the world. God bless you!
Posted by SAJ 6 Feb 2012















