Katy

Dakar, Senegal

100% repaid

Entrepreneur

Name

Katy

Member since

September 2012

On-time repayments

26 installments  •  96%

About Me

I am a young Senegalese married woman, living with my husband at Parcelles Assainies with a child and we are young couple. I have an education and my parents are not from Dakar. Before my marriage, I lived away from my parents in Dakar, where I had a job as a maid. After my marriage, my husband helped me to start my business. I have sisters and brothers living in the family house next to my parents' house.

My Business

I am a businesswoman and I sell kitchen items like buckets, dishes, spoons, knives and cleaning accessories. I managed a shop next to my house at Parcelles Assainies unit 17. I earn 20 000 FCFA on average per day and I make 200 000 FCFA of monthly profits, I use one part of this money to purchase more goods and the rest is for my family's expenses.

Loan Proposal

The purpose of this loan would be the purchase of 10 rolls of fabric at $50.00 each. The re-sale of this fabric on a retail basis 6 yards at a time would generate an income of almost $1,000.00 with a net profit of $400.00. The selling process would be completed in 3 months. I could therefore earn a net profit of $400.00 every 3 months.

Show original Français  

About Me

suis jeune mariée sénégalaise qui vit avec mon mari aux Parcelles Assainies avec un enfant et nous sommes jeunes couple j'ai fait des etudes et mes parents sont origniaire hors de Dakar et avant mon mariage je vivais Dakar loin de mes parents pour traviller comme femme de ménage et après mon mariage mon mari m'a aidé pour commencer le comme j ai des soeurs et frères qui sont dans la maison familiale à coté de mes parents. les bénéfices généré de mon commerce avec l'appui de zidisha permettra de soutenir mes enfants et dans la maison je contribue à la dépense quotiendienne car j 'aide de tant à tant mon mari qui est un vieux retraité et qui ne travaille plus.

My Business

JE SUIS COMMERCANTE ET JE VENDS DES ARTICLES DE CUISINE DES SEAUX DES VAISELLES DES CUILLIRES DES COUTEAUX ET DES ACCESSOIRES DE M2NAGE JE GERE UN ETALE A COTE DE MA MAISON A L UNITE 17 DES PARCELLES ASSAINIES ET JE GAGNE EN MOYENNE 20000FCFA PAR JOUR ET JE FAIS DES BENEFICES MENSUELS DE 200000FCFA DONT UNE PARTIE EST RESERVEE A L AUGMENTATION DE MON STOCK DE MARCHANDISES ET LE RESTE POUR LES CHARGES DE LA FAMILLES. COMME VOUS L AVEZ BIEN VU LES MARHANDISES QUE JE VAIS ME PROCURER ME PERMETTRE POUR CETTE FOIS CI DE PREPARER LA FETE DE LA TABASKI QUI VIENT DANS DEUX MOIS JE SUIS A MA TROISIEME DEMANDE AVEC ZIDISHA JE COMPTE TOUJOURS CONTINUER A TRAVAILLER AVEC VOUS;

Loan Proposal

Le prêt sera servir à l'acquisition de marchandises. Je procurais avec ce prêt des 10 paires de tissus à 25000FCFA la pièces et je compte les revendre en détail de 6 yards pour recevoir un montant de 500000 FCFA et réaliser des bénéfices de 250000FCFA. Cet opération commerciale se fait dans une période de 3 mois c'est ainsi que pour tous les trois mois je réalise un bénéfice de 2500000FCFA;

Feedback

6

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$500.00

Date disbursed

Dec 7, 2012

Repayment status

On Time

Projected term

12 months

Lenders

A

Anninymouse

Southampton, United Kingdom

BM

Benedicte Monroe

Sarasota// Phnom Penh, United States

S E C King

Worcester, United Kingdom

I

IngeH

Muehlheim, Germany

sebastienrosa

Quebec, Canada

russell

leicester, United Kingdom

fcjapan

Osaka, Japan

M

missjoyy

Munich, Germany

G

GoldenPete

Christchurch, New Zealand

A

AWhitefield

Ipswich, United Kingdom

P

paperclip

San Francisco, United States

Creole1

Mobile, Alabama, United States

Ask Katy a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Squidnificent    Aug 19, 2014

    Hello Mrs Faye! It's been two months since you received your loan; I'm interested to hear how it has helped your business :)

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  • Squidnificent    Jun 2, 2014

    Good luck, Mrs Faye!

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  • mfrost3    May 27, 2014

    Hi everyone,

    Paige Klunk, another Client Relationship Manager, and I were able to visit Katy Faye and I wanted to share these photos I took while we were there. Katy was very excited to show us the new goods she has in her shop, and she is looking forward to receiving her third loan to purchase more goods in preparation for the upcoming holiday season. Korité, which marks the end of Ramadan, takes place this year on July 28 and will be a large celebration in Dakar.


    Miriam Frost
    Client Relationship Manager

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  • begumnoor    Apr 24, 2014

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  • mfrost3    Mar 17, 2014

    Katy was more than happy to show us the variety of goods she sells in her shop.

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  • mfrost3    Mar 12, 2014

    Hi everyone, my name is Miriam and I'm a Client Relationship Manager for Zidisha in Senegal. I had the pleasure of meeting with Katy recently and wanted to let everyone know how she and her business are going.


    Unfortunately for me, Katy doesn't speak very much French so I brought along one of our Volunteer Mentors, Malick, to help translate for me. When we arrived, she showed us the beautiful dyed fabrics from Mali she had just bought at a market that morning. Katy has a partner in Mali who brings her fabrics to resell, but she dreams of being able to travel to Mali herself. There she would be able to work with local artists to get the fabrics dyed exactly how she'd like, and it's also cheaper than buying them pre-dyed in Senegal so she would be able to make a larger profit. She has all of the papers necessary to travel to Mali, but is just lacking the means to make the trip.


    Katy sells the fabric and also kitchenware items from the garage connected to her house, where she has been operating for 5 years now. She was able to start her business with the help of her sister, who gave her items that she initially sold door-to-door. Her sister then suggested she open up a shop of her own, but rent in Dakar is very expensive, so Katy's husband turned their garage into a small boutique for her, which is now overflowing with items like coffee cups, kitchen appliances, and silverware sets. Unfortunately it is not located on a main road so Katy has had some problems with visibility and attracting new clients. In addition, Katy's sister has been sick for the past 2 years so Katy had to find other sources of goods to sell. Often she is forced to take items on credit and pay back after she sells them.


    Even so, Katy is determined. She is already planning on finishing repayment on her current loan in the next 2 months, which would be over a year ahead of schedule, so that she would be able to take out another loan that would allow her to finally travel to Mali. This is extremely important for Katy because her husband is retired and her shop provides the sole income for her family. Being able to travel to Mali would provide her with the profits she needs. She hopes that when she applies for her next loan, lenders will support her with her endeavor.

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    • rhagen    Mar 18, 2014

      Dear Miriam,

      Thank you for the post and the pictures. That is well appreciated. When reading through the text I just realized that there may be an opportunity for some synergy: One of my borrowers also lives in Dakar and travels to Mali frequently to buy fabric. Her name is Yacine Moustatpha GUEYE, she is very gently, reliable and entrepreneurial. Unfortunately she lost her husband about a month ago and I believe she needs a little support. I was wondering if it would be an idea to bring Faye into contact with Yacine. Yacine has a shop, speaks French and has helped other women on the market before. Maybe Fay and Yacine work together and make it easier for both. It would also bring a new aspect to Zidisha: rather than just providing funds it would provide network opportunities for entrepreneurs.
      What do you think?

      Richard

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      • mfrost3    Apr 15, 2014

        Hi Richard! I apologize, I just saw your reply. This sounds like a great idea! I intend on meeting with Yacine in the near future and will bring up the idea of connecting with Katy.

        Miriam

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  • rhagen    Feb 18, 2014

    Bonjour Katy,

    Merci pour le versement! J’espère que tout est bien avec vous et votre famille.
    Cordialement,

    Richard

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  • Widescreenn    Apr 7, 2013

    Bonjour Katy

    Vous êtes en retard, madame.
    Cordialement

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    • S E C King    Apr 8, 2013

      Charming... Mme Faye made her 1st repayment in full, and EARLY, and has even repaid at that same point a portion of her 2nd repayment too. I think a slight delay on one single repayment can therefore be forgiven. I am sure that Mme Faye does not need to be reminded of the situation in any case, and certainly not so impolitely.

      Dear Mme Faye

      Is all OK with your business? We hope that all is going well for you in Dakar.

      Best Regards

      Ginoir

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