After more than a decade selling fish, Kiki Flavien needed nets. Kiki, a 43-year-old fisherman who sells his catch at the Youpwe Market in Douala, Cameroon, knew that if he could simply catch more fish he would have eager customers ready to buy it from him. Despite having the ambition to expand his business and high demand from his customers, he lacked the capital he needed to buy the additional nets.
One day, an EB-Accion loan officer approached him in the market and talked to him about getting a loan. Kiki was able to obtain a U.S. $2,000 loan and buy five more nets for his business. He quickly repaid the first loan and used another to buy a motor for his boat, cutting by half the time it takes him to get out to sea.
This growth has allowed Kiki to hire two more employees and add windows and doors to the home he shares with his wife Annette and their four children. His wife opened a savings account, so that they can save little by little to continue to improve their home and allow their children to get a good education. “I want my children to go as far as possible in schooling,” Kiki says. And the family is undoubtedly well positioned to make that happen.