| Number borrowers | 300 |
| Loan Amount (range) | GHS 50 - 2,000 |
| Loan Term (range) | 3 - 12 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Business Training |
| Annual Interest & Method | 48.00% annual, Flat |
| Fees | 4.00% upfront |
| Insurance | None |
| Tax | None |
| Comp Dep | 20.00% upfront |
| Range of pricing | |
| Interest Price Component | 77.3% - 114.4% |
| Fee Component | 11.4% - 48.3% |
| Insurance Component | 0 |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 174.6% - 183.6% |
| Transparency Index (min/max) | 23 - 35 |
| Transparency Index (average) | 26 |
| 7,643 |
| KES 10,000 - 45,000,000 |
| 6 - 36 |
| Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training, Leadership, Women Empowerment |
| 20.0%-22.0% annual, Flat |
| 1.00%-1.50% upfront upfront |
| 1.25% upfront |
| None |
| 10.0%-20.0% upfront 50.00-0.00 ongoing |
| 34.5% - 38.0% |
| 1.4% - 7.7% |
| 1.2% - 4.6% |
| 0 |
| 47.0% - 56.9% |
| 20 - 43 |
| 36 |
| Outstanding portfolio (GHS) | GHS 72,000 |
| Portfolio (USD) | USD 36,548.22 |
| Active Clients with Loans | 300 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 2 |
| # Regions for this product | 2 |
| Regions Active | Greater Accra Region, Volta Region |
| Outstanding portfolio (KES) | KES 585,094,703 |
| Portfolio (USD) | USD 7,066,361.15 |
| Active Clients with Loans | 7,643 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 0% - 20% |
| Individual | x |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | x |
| Business training | x |
| Other training | x |
| Other | Leadership |
| Other (2) | Women Empowerment |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 8 |
| # Regions for this product | 8 |
| Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
| Currency | GHS |
| Minimum loan size | GHS 50 |
| Maximum loan size | 2,000 |
| Loans less than GHS 1,000 | 60% |
| GHS 1,000-5,000 | 40% |
| GHS 5,000-7,500 | 0 |
| GHS 7,500-10,000 | 0 |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 3.0 months |
| Longest loan term | 12.0 months |
| Approx average | 7.5 months |
| Loans 3 months or less | 60% |
| Between 4 and 6 months | 30% |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.1 months |
| Daily | |
| Weekly | x |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | x |
| Currency | KES |
| Minimum loan size | KES 10,000 |
| Maximum loan size | 45,000,000 |
| Loans less than KES 50,000 | 0 |
| KES 50,000-150,000 | 30% |
| KES 150,000-250,000 | 20% |
| KES 250,000-350,000 | 15% |
| KES 350,000-450,000 | 15% |
| Greater than KES 450,000 | 15% |
| Shortest loan term | 6.0 months |
| Longest loan term | 36.0 months |
| Approx average | 18.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 5% |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 15% |
| Between 13 and 18 months | 50% |
| Longer than 18 months | 20% |
| 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 | 4.00% |
| Highest quoted nominal interest | 4.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing Fee |
| % of loan amount - min | 4.00% |
| % of loan amount - max | 4.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | n/a |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 20.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | Final Pmt |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 1.67% |
| Highest quoted nominal interest | 1.83% |
| Reason(s) why interest rate varies | Loan Size |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Loan Processing Fee | Chattels Fee | |
| % of loan amount - min | 1.00% | 0 | |
| % of loan amount - max | 1.50% | 0 | |
| OR, Fixed amount - min | 0 | 0 | |
| Fixed amount - max | 0 | 1,500 | |
| Reason for variation | Loans below 100,000 KES = 1.5% with 250 KES minimum. Loans 100,000 KES and above = 1% | Charged only on loans KES 100,000 and above. | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Risk Management Fee |
| % of loan amount - min | 1.25% |
| % of loan amount - max | 1.25% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Required for | All |
| Criteria | Idv loans =10% upfront & 1% ongoing. Grp Loans <KES 100,000 =10% upfront & >KES 100,000 =20% upfront. Loans >KES 45,000 =KES 400 ongoing, <KES 45,000 loans =KES 50 ongoing. |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | No |
| % loan amount deposited | 10.00% - 20.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 - 1.00% |
| or, Fixed-amount deposited | KES 50 - 0 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 2.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | End Term |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 300 | GHS 600 | GHS 1,400 | ||
| Loan Cycle (1, 2, 3, etc) | 1 | 2 | 2 | ||
| Disbursement Date | 2013-01-28 | 2012-12-26 | 2012-12-27 | ||
| Loan Term (Months) | 2.6 months | 2.6 months | 3.5 months | ||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
| Total Cost of Credit | GHS 48 | GHS 96 | GHS 280 | ||
| True Price by Comp | |||||
| Interest price component | 92.1% | 92.1% | 92.7% | ||
| Fee Component | 33.7% | 33.7% | 26.2% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 57.8% | 57.8% | 55.7% | ||
| Full APR (int fee ins tax dep) | 183.6% | 183.6% | 174.6% | ||
| Transparency Index | 26 | 26 | 27 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 10,000 | KES 30,000 | KES 50,000 | KES 95,000 | KES 300,000 | KES 500,000 | |||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
| Disbursement Date | 2013-05-17 | 2013-05-15 | 2013-03-06 | 2013-06-19 | 2013-05-13 | 2013-04-18 | |||||
| Loan Term (Months) | 12.0 months | 12.0 months | 12.0 months | 12.0 months | 15.0 months | 12.0 months | |||||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
| Total Cost of Credit | KES 2,587.08 | KES 7,425 | KES 12,375.04 | KES 23,512.54 | KES 83,383.91 | KES 112,993.86 | |||||
| True Price by Comp | |||||||||||
| Interest price component | 37.8% | 37.6% | 37.6% | 37.8% | 34.6% | 34.6% | |||||
| Fee Component | 5.0% | 3.0% | 3.0% | 2.9% | 2.4% | 2.5% | |||||
| Insurance Component | 2.5% | 2.5% | 2.5% | 2.5% | 2.1% | 2.5% | |||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
| Deposit Component | 11.6% | 9.2% | 12.5% | 10.6% | 7.9% | 8.2% | |||||
| Full APR (int fee ins tax dep) | 56.9% | 52.3% | 55.6% | 53.8% | 47.0% | 47.8% | |||||
| Transparency Index | 32 | 34 | 32 | 33 | 43 | 42 | |||||
| Original Repayment Schedule | |||||||||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
| # Products | |
| # Institutions | |
| # Countries | |
| # Borrowers | |
| Loan Portfolio (USD) | |
| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
|---|---|---|---|---|---|---|---|
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