By Doré, Business adviser PROSPERER, PORT-BERGE Madagascar
Translated by Natshassia
Three blacksmiths: RAMBELONARISON, DADAFARA and LAIZY, from Port Bergé, a district in the north-western part of Madagascar, around 600km from the capital, decided to use micro finance.
They each received 100 000Ar: (50USD) to be used as working capital so that they could better satisfy the local demand. They made efforts to increase their production, next year they plan to focus on improving the product quality. They also have business advisers to help them.
The main problem they faced was the product prices were too low so they moved to another region, they spent one week moving from place to place. They wanted to double the price from 3000Ar (1.5USD) to 4000Ar (2USD) a piece instead of 1 500Ar (0.75USD) as they did before.“The demand level is high but row materials weren’t enough” DADAFARA said. That’s why they took out a loan from micro finance bodies supported by the IVO/FANOITRA of their area.