| Number borrowers | 70,077 |
| Loan Amount (range) | GHS 300 - 1,000 |
| Loan Term (range) | 6 - 12 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins |
| Annual Interest & Method | 36.00% annual, Flat |
| Fees | 5 upfront |
| Insurance | 1.00% upfront |
| Tax | None |
| Comp Dep | 10.00% upfront |
| Range of pricing | |
| Interest Price Component | 58.2% - 68.4% |
| Fee Component | 0.9% - 6.0% |
| Insurance Component | 2.1% - 4.2% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 81.5% - 87.5% |
| Transparency Index (min/max) | 41 - 49 |
| Transparency Index (average) | 42 |
| Outstanding portfolio (GHS) | GHS 34,579,766 |
| Portfolio (USD) | USD 18,104,590 |
| Active Clients with Loans | 70,077 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | |
| 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 | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| 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 | 4 |
| # Regions for this product | 4 |
| Regions Active | Greater Accra Region, Central Region, Western Region, Ashanti Region |
| Currency | GHS |
| Minimum loan size | GHS 300 |
| Maximum loan size | 1,000 |
| Loans less than GHS 1,000 | 100% |
| GHS 1,000-5,000 | 0 |
| 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 | 6.0 months |
| Longest loan term | 12.0 months |
| Approx average | 10.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 90% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 10% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 0.5 months |
| Daily | |
| Weekly | x |
| 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 | 3.00% |
| Highest quoted nominal interest | 3.00% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | Yes |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Registration Fee |
| % of loan amount - min | 0 |
| % of loan amount - max | 0 |
| OR, Fixed amount - min | 5 |
| Fixed amount - max | 5 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| 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 | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 6.00% |
| Maximum interest rate paid | 6.00% |
| Interest payment frequency | Annually |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 300 | GHS 600 | GHS 900 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2012-07-23 | 2013-01-28 | 2013-02-01 | ||
| Loan Term (Months) | 7.0 months | 6.0 months | 5.8 months | ||
| Grace Period (Months) | 0.2 months | 0.2 months | 0.2 months | ||
| Total Cost of Credit | GHS 62 | GHS 119 | GHS 176 | ||
| True Price by Comp | |||||
| Interest price component | 58.2% | 63.1% | 66.4% | ||
| Fee Component | 6.0% | 3.2% | 2.3% | ||
| Insurance Component | 3.7% | 4.0% | 4.2% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 13.6% | 14.0% | 14.6% | ||
| Full APR (int fee ins tax dep) | 81.5% | 84.3% | 87.5% | ||
| Transparency Index | 44 | 43 | 41 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
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| % Products using declining balance | |
| % Products with one or more fee | |
| % Products with one or more insurances | |
| % Products with compulsory deposits |
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