| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.eb-accion.com |
| Year established | 2008 |
| Head of Institution | Mrs. Frances Adu-Mante |
| Regions active | Greater Accra Region, Ashanti Region, Brong Ahafo Region |
| # Branches | 8 |
| Total Portfolio (nat'l) | GHS 23,675,529 |
| Total Portfolio (USD) | USD 12,018,035.03 |
| Active clients with loans | 9,401 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | Ghana Association of Savings and Loans Companies, GHAMFIN |
| Funders | Ecobank Ghana Ltd, Ecobank Transitional Inc, ACCION International, IFC |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nkosuo | GHS 50 - 3,000 | 3 - 12 | 60% - 80% | 60% - 80% | Business | Women, Men, Have business, Specific age group | Credit Ins | |||||||
| Micro Express | GHS 50 - 1,000 | 3 - 6 | 60% - 80% | 60% - 80% | Business | Women, Men, Specific age group | Credit Ins | |||||||
| Adwuma Pa | GHS 3,000 - 15,000 | 3 - 12 | 60% - 80% | 80% - 100% | Business | Women, Men, Have business, Specific age group | Credit Ins | |||||||
| Micro Plus | GHS 15,000 - 30,000 | 3 - 24 | 40% - 60% | 40% - 60% | Business | Women, Men, Have business, Have home or land, Specific age group | Credit Ins | |||||||
| SME | GHS 30,000 - 50,000 | 3 - 24 | 0% - 20% | 80% - 100% | Business | Women, Men, Have business, Have home or land, Specific age group | Credit Ins | |||||||
| Group | GHS 600 - 3,000 | 3 - 12 | 80% - 100% | 0% - 20% | Business | Women, Men, Have business, Specific age group | Credit Ins |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nkosuo | 48.0% annual, Flat | 1 Fee | 1 Ins | None | 81.2% - 82.6% | 83.9% - 120.9% | 52 | |||||||||
| Micro Express | 48.0% annual, Flat | 1 Fee | 1 Ins | None | 2.50-10.00 ongoing | 87.8% - 95.1% | 154.3% - 180.7% | 29 | ||||||||
| Adwuma Pa | 45.0% annual, Flat | 1 Fee | 1 Ins | None | 61.3% - 76.6% | 68.3% - 78% | 61 | |||||||||
| Micro Plus | 42.0%-45.0% annual, Flat | 1 Fee | 1 Ins | None | 74% - 76.6% | 75.2% - 78.2% | 54 | |||||||||
| SME | 38.4%-42.0% annual, Flat | 1 Fee | 1 Ins | None | 59.9% - 64.5% | 60.7% - 66.9% | 59 | |||||||||
| Group | 48.0% annual, Flat | 1 Fee | 1 Ins | None | 2.50-10.00 ongoing | 74.1% - 77.1% | 111.6% - 118.8% | 41 |
| Outstanding portfolio (UGX) | UGX 8,126,818,531 |
| Portfolio (USD) | USD 3,125,699.44 |
| Active Clients with Loans | 15,056 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | |
| Solidarity group | x |
| Village banking | x |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | x |
| Consumer loan | |
| Agriculture | |
| Education | x |
| 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 | Consumer Financial Education |
| 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 | 3 |
| # Regions for this product | 3 |
| Regions Active | Central, Eastern, Western |
| Currency | UGX |
| Minimum loan size | UGX 50,000 |
| Maximum loan size | 5,000,000 |
| Loans less than UGX 1,000,000 | 50% |
| UGX 1,000,000-5,000,000 | 50% |
| UGX 5,000,000-7,500,000 | 0 |
| UGX 7,500,000-10,000,000 | 0 |
| UGX 10,000,000-13,000,000 | 0 |
| Greater than UGX 13,000,000 | 0 |
| Shortest loan term | 4.0 months |
| Longest loan term | 12.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 40% |
| Between 10 and 12 months | 40% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 |
| Lowest quoted nominal interest | 2.25% |
| Highest quoted nominal interest | 2.50% |
| Reason(s) why interest rate varies | Loan Size, 2.5% per month for loans up to 2M, 2.25% per month for loans over 2M |
| 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 | Loan Application Fee | |
| % of loan amount - min | 2.00% | 0 | |
| % of loan amount - max | 2.00% | 0 | |
| OR, Fixed amount - min | 0 | 5,000 | |
| Fixed amount - max | 0 | 10,000 | |
| Reason for variation | N/A | 5000 for loan up to 2M, 10,000 for loans over 2M | |
| Appears on Repayment Sched? | No | No |
| Ins 1 | |
|---|---|
| Description | Insurance Fee |
| % of loan amount - min | 1.10% |
| % of loan amount - max | 1.10% |
| 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 | 15.00% |
| 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 |
| Sample 1 | Sample 3 | Sample 4 | |||
|---|---|---|---|---|---|
| Loan Amount | UGX 300,000 | UGX 1,500,000 | UGX 4,000,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-01-14 | 2012-04-24 | 2012-05-09 | ||
| Loan Term (Months) | 5.8 months | 13.0 months | 12.0 months | ||
| Grace Period (Months) | 0.2 months | 1.0 month | 0.0 months | ||
| Total Cost of Credit | UGX 59,300 | UGX 500,000 | UGX 1,210,000 | ||
| True Price by Comp | |||||
| Interest price component | 55.1% | 47.5% | 50.9% | ||
| Fee Component | 15.0% | 4.4% | 5.1% | ||
| Insurance Component | 4.7% | 1.9% | 2.3% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 25.5% | 16.0% | 19.5% | ||
| Full APR (int fee ins tax dep) | 100.3% | 69.8% | 77.8% | ||
| Transparency Index | 27 | 39 | 35 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Key Statistics | |
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| # 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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