siaka tou

About Zidisha Profiles Zidisha entrepreneurs write their own loan profiles and provide their own photos. English is not usually their first language, and many had to overcome great obstacles to obtain an education. Additionally, many do not have cameras and own only a small number of personal photos. As a result, the profiles are not always as polished as on other websites. To keep profiles genuine, Zidisha staff do not make any edits, with the exception of titles for clarity and English translations.

My Story

Hello, my name is Siaka Tou. I am 22 years old and I am a farmer who comes from Karfiguela in the south-west of Burkina Faso. I grow rice, corn, peas, potatoes, peanuts and vegetables. Also, I work with my dad to raise beef. The waterfalls of Karfiguela, the most popular tourist site in Burkina Faso, are situated in my village. When I do not work in the fields I guide the visitors to the waterfalls and the other tourist sites. I have been a volunteer with the Peace Corps, an American NGO for three years. I have two goals: I want to help the development of Karfiguela and I want to run a restaurant. It is very important that I diversify the revenue in the tourism industry.

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About My Business

The tourism infrastructure of Karfiguela is under-developed even by the standards of West Africa. There is no food, drinks, or accommodations less than 10 km from the waterfalls, thus, there is an opportunity to profit from the numerous visitors who visit the waterfalls. Right now, I have built a restaurant and hostel near the entrance of the waterfalls. I work with my brothers and the Peace Corps volunteers to build the building, the majority of the Zidisha funding will be used for a freezer to conserve food and drinks (300,000fcf or 641 USD). Also, I will buy a door and iron window to protect the things in the building (60000fcf or 128 USD). Before the opening of the restaurant I will buy tables and chairs, gas, plates, and drinks. The menu of the restaurant will be comprised of meals with high margins that Western tourists like and also local meals for African clients. After the initial costs, there will not be fixed monthly costs, the variable costs are the food and the drinks and the gas for the refrigerator and freezer. I think that the restaurant will earn 100000fcfa (213 USD) in profit each month after the rooms of the hostel are constructed the profits will grow. The restaurant will aid the development of Kargiguela, I am going to buy local products like bissap, palm wine, and dry mangos and souvenirs directly from girls and women in the village. The men are going to be tourist guides, I will reinvest the profit to grow the enterprise and the next thing I am going to build are the rooms of the hostel. In the future I want to create a bike tour so clients can visit the tourist sites.

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My Loan Proposal

With the Zidisha loan, I will buy a refrigerator, a door, a window, tables, chairs, plates, spoons, gas for the kitchen, knives, pans, a plastic barrel for water, ice, different food, road signs for the restaurant, plastic tableware, baskets, an arrangement in front of the restaurant for traditional things (necklaces, masks, etc), the construction of a small compartment for pizza, similarly, cases of different drinks with glasses, a shed for parking, and another for the tourists of the waterfall to rest in.

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Feedback

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Date By Feedback Rating Comment Edit
Sep 18, 2012 Megivern Positive Great job Siaka! Your hard work has already helped change the village!!
Sep 13, 2012 CatholicNetworking Positive Repaid in full, thank you.
Aug 18, 2012 melliecarma Positive i always had fun at the thought that i was investing in a waterfall in burkina faso. it seems crazy to do so but at a closer look it shows to be reasonable. siaka tou has an interesting concept and is pursuing it with full motivation and already planning ahead for the time to come. his project will also give jobs to local villagers and thus have an social impact in the region. this is very positive. on top of that there will also be a zidisha client relationship intern for the country. i daresay this is at least in part a result of mr. tou's efforts... good job!


Comments

If you would like help in communicating with siaka tou, you may post a message in the profile page of siaka tou's Volunteer Mentor, Siaka Traore. Volunteer Mentors are Zidisha borrowers or residents of borrowers' communities, who volunteer their time to assist new members to interact with our website.
 

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When I first visited the Karfiguela Falls 3 years ago, there was nobody or nothing to welcome me but a run-down and abandoned ‘campement’. Such a shame for the most beautiful and important tourist attraction in Burkina Faso! On a short distance of the old ‘campement’ you will now find a restaurant where Siaka Tou serves tasty meals and fresh drinks. The Karfiguela Falls are far away from everywhere so it a great advantage that Siaka is offering lodging as well. Two charming huts are ready by now, one is under construction and he is planning to build a few more, in the different housing styles of the people of Burkina Faso.

It is only fair to tell you that this is not exclusively the result of Siaka’s loan with Zidisha. He was offered a small grant by Peace Corps Burkina Faso as well and both he and Peace Corps Volunteer James Megivern invested lots of time, energy and ideas in the construction works. Thanks to the Zidisha loan though Siaka was able to actually start the restaurant: he could buy a large fridge, tables and chairs and all the necessary materials for preparing and serving food.

Because tourism is not a very stable sector in Burkina Faso (and today even more under strain because of the troubles in neighbouring Mali) the restaurant is a very important asset. Even when weeks go by without a tourist coming along Siaka’s restaurant is doing very well and the villagers appreciate it very much. The closest town is 15 km away and Siaka has become the guarantee for fresh bread, cool beer, a decent meal. This means off course a steady income for Siaka, but it also turned the site around the Falls more lively and cosy.

I was particularly charmed by the catering service Marleys (because that is the name of Siaka’s restaurant) is offering. It is a steep walk up to the falls and people who want to spend all day up there can now order food and drinks at the restaurant. Siaka will send it up with a smile! I can certainly recommend a visit to the website http://marleysbf.weebly.com to all who want to have a closer look at Siaka’s project.

There is no shortage of future plans (more huts, a new and more solid roof for the restaurant, a fence, …) and Siaka will probably get the help of a private investor to realize them. So this is one more beautiful example of how Zidisha helps enterprises grow and how it gives entrepreneurs the chance to rise above invisibility. It is also very clear that Siaka’s loan has been and still is much talked of in Karfiguela and although few people in the village are computer literate there may be more loan applications coming up from the region soon.

Siaka asked me to thank Zidisha and all the lenders that helped financing his project once again and you should know that you all will be most welcome when turning up at Karfiguela Falls one day!

Hi everyone, I just want to let you know that I have well arrived in Burkina Faso and that I will travel to the region where Siaka Tou lives on Wednesday 19 September. If you have any questions for him, please don't hesitate to post them here. I will be more than happy to pass them to Siaka and to give you the answers when writing a report on my visit.
Thanks,
Mien

Hi everyone, my name is Mien and I am living in Belgium right now but I will be arriving soon (beginning of September) in Burkina Faso as the first Client Relationship Intern for Zidisha in this country. This afternoon I had the chance to speak a few moments to Siaka Tou on the phone. He lets you know that everything is fine at the Karfiguela Falls. The restaurant is working well and he has constructed 3 rooms already. He is planning to build more as soon as possible because he has hosted quite some guests during the past months. He promised to show me around when I will visit him and the project in September. I am sure we will be able to give you more detailed updates at that time, so please continue to follow Siaka and his business!
Thanks,
Mien

siaka tou   Feb 19, 2012

Good morning. I bought the freezer in December and now, there are cold drinks in the waterfalls. These days, I am doing the rooms for the tourists. Each will be housed in a different style hut, and will represent a traditional housing design of one Burkina's ethnic groupe: peul, karaboro, lobi. James is helping me create a website. Thanks! siaka

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siaka tou   Oct 17, 2011

Hello and thanks very much, I am very happy to have the loan. I used the money to buy the tables and chairs, spoons, sign, and the building itself. Now the Karfiguela Waterfall restaurant is open for business. Next month I plan to buy the refrigerator and begin to build bedrooms for the tourist lodge.

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Hi Lenders! My name is James, a Peace Corps volunteer in Burkina Faso who is working along side Siaka to build his restaurant. I helped construct the latrine and mud-brick building and we even did cooking lessons! (pictured here) Siaka recently purchased a gas-powered freezer and can now begin stocking a wider variety of food and cold drinks. He has done an incredible job launching and managing his restaurant and it is very rewarding watching the impact on the village of 1,000 people. Village parties are now held at Siaka's restaurant and everyone has truly benefited. We're going to begin building several traditional huts for lodging because tourist season is here!

Stay tuned for more updates,

James

siaka tou

karfiguela, Burkina Faso

100% Repaid

About siaka tou


On-Time Repayments: The On-Time Repayment Rate is the percentage of all monthly or weekly loan repayment installments that this member has paid on time (within ten days of the due date), for all loans that he or she has taken since joining Zidisha. The number displayed in parentheses is the total number of monthly or weekly installments that have been due, over which the On-Time Repayment Rate is measured.

63% (19)
Feedback Rating: The Feedback Rating is based on performance ratings assigned to the borrower’s previous loans by Zidisha lenders. The Feedback Rating score is the percentage of all performance ratings that are positive, and the number displayed in parentheses is the total number of performance ratings the borrower has earned.

100% Positive (3)

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Online Identity: If this member has linked a personal social media account to verify online identity, it will be displayed here. Not Provided
National ID Card: Indicates whether this member has provided Zidisha with a copy of a government-issued identity card. Not Provided
Community Leader Recommendation: Indicates whether this member has provided Zidisha with a Recommendation Form signed by the leader of a recognized organization, such as a school or religious institution, in the member's community. Not Provided
Volunteer Mentor: Volunteer Mentors are Zidisha borrowers or residents of borrowers' communities, who volunteer their time to assist new members to interact with our website. Siaka Traore
93% (14)
Public Endorsement: If this member has received any public online endorsements from local acquaintances, they will be displayed here. Not Provided

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About This Loan

Loan Principal Disbursed: USD 1,128.00
Date Disbursed: Aug 09, 2011
Repayment Period: Number of months or weeks from disbursement until loan is fully repaid 12 months
Grace Period: Number of months or weeks between disbursement and first repayment installment 3 months
Total Interest Due to Lenders: This is the annual interest rate proposed by the borrower. Lenders may bid to finance the loan at the borrower’s proposed interest rate, or at a lower rate if they desire. If more bids are received than the amount needed to fund the loan, the borrower will accept the bids with the lowest proposed interest rates.

All interest rates displayed on the Zidisha website are expressed as flat percentages of loan principal per year the loan is held. For example, for a loan of USD 100, taken at 4% annual interest with a repayment period of six months, the total interest amount will be USD 100 * 4% * (6 months / 12 months) = $2.

The expression of interest rates as flat percentages of loan principal amounts is intended to make calculation of interest amounts more intuitive for borrowers and for lenders, and to facilitate comparison with other microfinance loans in borrowers' communities, the majority of which also use the flat rate methodology to express interest rates.
USD 30.56 (2.71%)
Borrower Transaction Fees: A transaction fee paid to Zidisha, expressed as a total amount and as a flat annualized percentage of the loan principal amount. USD 56.40 (5.00%)
Total Amount (Including Interest and Transaction Fee) to be Repaid: Interest plus transaction fees, expressed as a total amount and as a flat annualized percentage of the loan principal amount. USD 1,214.96 (7.71%)

Funding

Lender Name Amount (USD) Interest
CatholicNetworking
(64)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
5.560.00 %
Megivern
(62)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
96.800.00 %
dkuey
(17)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
20.002.00 %
Wiseclerk
(12)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
6.002.90 %
Errol
(277)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
11.912.95 %
Archie
(23)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
20.003.00 %
Feldborg
(1,857)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
100.003.00 %
IJAZBOF
(73)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
5.003.00 %
melliecarma
(98)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
10.003.00 %
melliecarma
(98)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
10.003.00 %
Monarch84
(84)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
20.003.00 %
BRWorthington
(70)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
250.003.00 %
mblue0953
(36)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
2.113.00 %
sworthington
(81)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
250.003.00 %
qt9998
Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
100.003.00 %
Megivern
(62)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
220.623.00 %

Repayment schedule


Repayments due as of Apr 18, 2014:  USD 0
Total repaid as of Apr 18, 2014:  USD 1,215
Date Due Amount Due Date Paid Paid Amount The Paid Amounts displayed here are the local currency amounts received, converted to US Dollars at the exchange rate that was effective at the time the loan was disbursed. The amounts credited to individual lenders are converted to US Dollars at the exchange rate that was effective at the time each repayment was received, and due to exchange rate fluctuations they may be more or less than the amounts displayed here.
Nov 09, 2011121.50Oct 25, 2011121.50
Dec 09, 2011121.50Oct 25, 20112.59
  Dec 06, 2011118.90
Jan 09, 2012121.50Dec 06, 20115.18
  Jan 15, 2012116.31
Feb 09, 2012121.50Jan 15, 20127.77
  Feb 13, 2012113.72
Mar 09, 2012121.50Feb 13, 201210.36
  Mar 11, 2012111.13
Apr 09, 2012121.50Mar 11, 201212.95
  Apr 15, 2012108.54
May 09, 2012121.50Apr 15, 201215.49
  May 08, 2012106.01
Jun 09, 2012121.50May 08, 201218.02
  Jun 14, 2012103.48
Jul 09, 2012121.50Jun 14, 201220.55
  Jul 09, 2012100.94
Aug 09, 2012121.50Jul 09, 201223.08
  Aug 16, 201298.41
Total Amount Due1,214.96Total Paid Amount1,214.96