Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.africangatesupport.com/ |
Year established | 2008 |
Head of Institution | Joris Eduamah |
Regions active | Western Region |
# Branches | 2 |
Total Portfolio (nat'l) | GHS 93,619 |
Total Portfolio (USD) | USD 47,522.34 |
Active clients with loans | 225 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 60% - 80% |
Network affiliations | |
Funders | Neurotical Ideas Ltd |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | GHS 100 - 5,000 | 1 - 6 | 80% - 100% | 40% - 60% | Business, Housing, Consumer, Education | Women, Men | Group Mtgs, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Group Loan | 72.00%-88.20% annual, Flat | 1 Fee | 0 | None | 20.00%- upfront | 168.1% - 207.8% | 242.2% - 311.7% | 25 |
Outstanding portfolio (UGX) | UGX 43,351,991,721 |
Portfolio (USD) | USD 16,673,843 |
Active Clients with Loans | 11,745 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 20% - 40% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | |
Mortgage/housing | x |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | x |
Workplace visits | |
Business training | |
Other training | |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | |
Must own a home or land | x |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 4 |
# Regions for this product | 4 |
Regions Active | Central, Eastern, Northern, Western |
Currency | UGX |
Minimum loan size | UGX 100,000 |
Maximum loan size | 30,000,000 |
Loans less than UGX 1,000,000 | 10% |
UGX 1,000,000-5,000,000 | 15% |
UGX 5,000,000-7,500,000 | 15% |
UGX 7,500,000-10,000,000 | 15% |
UGX 10,000,000-13,000,000 | 15% |
Greater than UGX 13,000,000 | 15% |
Shortest loan term | 3.0 months |
Longest loan term | 36.0 months |
Approx average | DK |
Loans 3 months or less | 0 |
Between 4 and 6 months | 15% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 30% |
Between 13 and 18 months | 30% |
Longer than 18 months | 5% |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 24.00% |
Highest quoted nominal interest | 24.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Decl Bal |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Acceptance Commission | Stamp Duty | |
% of loan amount - min | 2.00% | 0 | |
% of loan amount - max | 2.00% | 0 | |
OR, Fixed amount - min | 0 | 10,000 | |
Fixed amount - max | 0 | 10,000 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | Yes | Yes |
Fee 1 | |
---|---|
Description | Monthly Monitoring Fee |
% of loan amount - min | 0.50% |
% of loan amount - max | 0.50% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | Yes |
Ins 1 | |
---|---|
Description | Loan Protection Insurance |
% of loan amount - min | 0.45% |
% of loan amount - max | 0.45% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | Never |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | N/A |
Do borrowers control deposit in their group? | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | N/A |
Minimum interest rate paid | N/A |
Maximum interest rate paid | N/A |
Interest payment frequency | N/A |
Are taxes charged on this product? | No |
Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | UGX 1,500,000 | UGX 3,000,000 | UGX 9,000,000 | UGX 15,000,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-02-07 | 2012-12-21 | 2012-06-18 | 2012-10-02 | |||
Loan Term (Months) | 24.0 months | 12.0 months | 37.0 months | 24.0 months | |||
Grace Period (Months) | 0.0 months | 0.0 months | 0.4 months | 0.0 months | |||
Total Cost of Credit | UGX 556,104.80 | UGX 582,832.60 | UGX 5,120,652.20 | UGX 5,513,500 | |||
True Price by Comp | |||||||
Interest price component | 23.7% | 23.8% | 23.7% | 29.7% | |||
Fee Component | 8.8% | 10.5% | 7.5% | 2.2% | |||
Insurance Component | 0.5% | 0.9% | 0.4% | 0.5% | |||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
Full APR (int fee ins tax dep) | 33.0% | 35.2% | 31.6% | 32.4% | |||
Transparency Index | 73 | 68 | 76 | 74 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
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Loan Portfolio (USD) | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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