Although micro-finance is a new venture in the poverty-stricken regions
of the North, it has contributed to build a nascent "entrepreneurial
spirit" among women. Djoumawoye Biryago's life has changed notably
over the past four years thanks to her initiative, her hard work, and
the opportunity offered by the Timbuktu micro-credit program funded
by USAID and implemented by Africare.
This 42 year-old, illiterate woman and her nine children live in one
of the most disadvantaged and disenfranchised neighborhoods in the city
of Timbuktu. Until 1998, the meager income Djoumawoye earned from the
sale of local products was barely sufficient to meet the basic needs
of her family. They often only ate one meal a day. There was no money
left over for amenities like school fees or a change of clothing. In
1998, Djoumawoye heard of the Africare micro-credit program and took
the initiative to apply for a loan. The first loan she received ($430)
was invested in augmenting the products she sold in the market. She
reimbursed the loan in 12 months and was able to generate a profit of
$85. This she used to purchase cereals for the family. This meant that
for the first time in their lives, the children did not go to bed hungry.
In January 2002, Djoumawoye was granted a fourth loan of $570. This
loan will allow her to expand into the meat market. She will purchase
and sell three goats and six sheep. The profits from these sales will
hopefully improve her financial position enough that she will be able
to pay school fees for her children and buy them medicine when they
are sick. She has consistently turned a profit and provided a valuable
service at the same time. She is ensuring that her children's lives
will be an improvement over hers. It is encouraging to see that a few
hundred dollars can make such a difference in someone's life.
In Timbuktu: A "Mom" Entrepreneur
