Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | http://www.cedefgh.wix.com/cedef |
Year established | 2006 |
Head of Institution | Magnus Amoa-Bosompem |
Regions active | Greater Accra Region, Central Region, Eastern Region |
# Branches | 1 |
Total Portfolio (nat'l) | GHS 106,980 |
Total Portfolio (USD) | USD 54,304.57 |
Active clients with loans | 535 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 20% - 40% |
Network affiliations | ASSFIN, GHAMFIN, Financieros sin Fronteras |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agricultural Production Credit | GHS 1,000 - 1,000 | 8 - 12 | 60% - 80% | 0% - 20% | Business | Women, Men, Must have farming experience | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training, Other Training, Training on Agricultural Best Practices | |||||||
Apprenticeship Start-up Credit Program | GHS 500 - 1,000 | 6 - 12 | 80% - 100% | 40% - 60% | Business, Start-up businesses | Women, Men, Specific age group, Must be in youth age group | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training | |||||||
Efficient Energy Credit Program | GHS 200 - 1,000 | 3 - 6 | 80% - 100% | 0% - 20% | Consumer | Women, Men | Credit Educ, Group Mtgs, Tech Asst Visits, Workshop/training orientation demonstration | |||||||
Micro Enterprise Development | GHS 100 - 3,000 | 6 - 12 | 80% - 100% | 40% - 60% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Tech Asst Visits, Business Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Agricultural Production Credit | 30.00% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 23.8% - 25.1% | 23.8% - 25.1% | 100 | ||||||||
Apprenticeship Start-up Credit Program | 48.00%-54.00% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 40.5% - 41.9% | 40.5% - 41.9% | 100 | ||||||||
Efficient Energy Credit Program | 36.00%-54.00% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 49.8% | 49.8% | 72 | ||||||||
Micro Enterprise Development | 36.00%-54.00% annual, Decl Bal | 0 Fees | 0 Ins | None | N/A | 40.8% - 41.5% | 40.8% - 41.5% | 87 |
Outstanding portfolio (KES) | KES 2,752,990,159 |
Portfolio (USD) | USD 33,248,673.42 |
Active Clients with Loans | 33,227 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 20% - 40% |
Individual | x |
Solidarity group | |
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 | |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
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 | Operated the business for over a year |
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 | KES |
Minimum loan size | KES 5,000 |
Maximum loan size | 500,000 |
Loans less than KES 50,000 | 15% |
KES 50,000-150,000 | 30% |
KES 150,000-250,000 | 20% |
KES 250,000-350,000 | 20% |
KES 350,000-450,000 | 10% |
Greater than KES 450,000 | 10% |
Shortest loan term | 1.0 month |
Longest loan term | 18.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 50% |
Between 13 and 18 months | 30% |
Longer than 18 months | 0 |
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 | 1.67% |
Highest quoted nominal interest | 1.67% |
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 | LACE (Loan Application & Credit Evaluation) Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 3% for 1st cycle, 2% for multiple cycle loans |
Appears on Repayment Sched? | No |
Ins 1 | |
---|---|
Description | Annual Insurance Fee |
% of loan amount - min | 0.63% |
% of loan amount - max | 0.63% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | 0.625% per annum. |
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 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | KES 9,999.95 | KES 24,999.98 | KES 49,999.93 | KES 99,999.98 | KES 299,999.99 | KES 499,999.90 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2013-05-09 | 2013-05-27 | 2013-05-17 | 2013-05-10 | 2013-05-24 | 2013-05-03 | |||||
Loan Term (Months) | 12.0 months | 6.0 months | 12.0 months | 6.0 months | 15.0 months | 15.0 months | |||||
Grace Period (Months) | -0.1 months | 0.0 months | 0.0 months | 0.0 months | -0.1 months | 0.1 months | |||||
Total Cost of Credit | KES 2,240.92 | KES 3,379.33 | KES 11,258.69 | KES 12,624.96 | KES 82,229.83 | KES 138,124.95 | |||||
True Price by Comp | |||||||||||
Interest price component | 34.9% | 33.1% | 34.6% | 32.8% | 34.9% | 34.2% | |||||
Fee Component | 4.0% | 10.9% | 4.0% | 7.1% | 3.3% | 3.2% | |||||
Insurance Component | 1.3% | 2.3% | 1.3% | 2.2% | 1.1% | 1.1% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 40.2% | 46.3% | 39.9% | 42.1% | 39.3% | 38.5% | |||||
Transparency Index | 50 | 43 | 50 | 48 | 51 | 52 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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