NMI Investments

NMI Frontier Fund

Soro Yiriwaso

Soro Yiriwaso ("Soro") is a microfinance institution (MFI) organized as an association under Mali law and operating in southern Mali. Soro was started in 2001 as a spin-off of microfinance activities operated by Save the Children, the international charitable organization. At the end of 2009, Soro had a Gross Loan Portfolio of approximately USD 5 million and about 50,000 clients, of whom 95 percent are women.

Soro's mission is to increase economic opportunities for disadvantaged Malian entrepreneurs, particularly women, by offering them access to sustainable financial services. Soro provides both loan and savings products. Loan products are offered both as group loans with joint liability and as individual loans. Group loans comprise about 80 percent of the loan portfolio.

Soro has about 50 percent of its loans in the agricultural sector, predominantly in rice and corn. The rest of the loan portfolio is in petty trade and with artisans.

NMI's investment is in the form of a Senior Loan denominated in West African CFA Francs, the local currency of Mali. NMI is hedging the foreign exchange risk of this investment through a deliverable swap with The Currency Exchange N.V. (TCX).

Soro Yiriwaso Facts
  • Total Loan Portfolio: USD 5.7 million.
  • NMI Frontier Fund Investment: 400 million CFA Francs, plus additional commitment for 200 million CFA francs
  • Other Investors: Grameen Credit Agricole Foundation, Oikocredit, Triple Jump.
  • Principal Operating Area: Southern Mali.
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