His name is Aziz. Single and 22 years old, he is from Boumia, a small village in the Middle Atlas region of Morocco. Aziz lives with his family of nine: his father, who is a bricklayer, his mother, an older sister who is divorced, his nephew, twin brother, sister-in-law and two younger brothers who are still in school.
Aziz was still in primary school when he abandoned his studies to join the working world. Last year he became a shopkeeper, renting a small store for 250 dirham (Dh) – about $30 a month. He sells candies and roasted peas – a business known in Morocco as a taguellaite. With a monthly net income of 1000 Dh, Aziz contributes up to 700 Dh to help support his family and keeps 300 Dh as an allowance for himself.
But Aziz wanted to expand his business, so he went to AMOS (Association Microfinance Oued Srou), which in partnership with MEDA has developed a loan product for youth. Despite his youth, his single status and lack of credit history, Aziz was able to contract a loan of 3000 Dhs with a 12-month term – without having to provide a promissory note as a guarantee.
Thanks to this new financial product, Aziz and other young Moroccans will be able to see hope for prosperity in their future.
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