ADECOL is a mutual saving and credit cooperative created in 1999. Its principal mission consists in facilitating its members’ access to micro credit. ADECOL intervenes in the regions of Dakar and Thiès in Senegal.
Mrs. Oumhani TIMBOM, dyer, beneficiary of an ADECOL loan.
| Mrs. Oumhani TIMBOM, 37 years old, widow, 5 children | |
| Hometown : | Grand Yoff |
| Country : | Senegal |
| Current loan amount : | Amounting to 1'000 € (4th) |
| Business : | Dyeing |
| Experience : | 6 years |
She buys fabric in a textile factory and dyes them with different colours.
In 2002, she was granted a first loan for an amount of 38 € from a UNDP programme aimed at addressing poverty issues. She subsequently contacted ADECOL, which enabled her to multiply her loan by 12. As a result, she received a total loan of 457 €, with a 12 month maturity date, and an 18% interest rate. After having repaid this loan, she considered borrowing further loans for a respective amount of 700 and 1'000 €.
These loans enabled her to increase the scale of her operations during the Ramadan celebrations (Muslim fast) by dyeing 50 pieces of fabric. In total she was able to sell over 80% of her fabrics for 23 € a piece.
« Thanks to ADECOL's micro-credit, Mrs. Oumham Timbo, was able to increase her income which enabled her to develop her small fabric business, to provide scholarship for her children and to improve the living conditions of her family. »
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