Institution Type | Non-Governmental Organization |
Is this institution regulated? | No |
Website address | http://www.sekamtrustghana.org/ |
Year established | 2008 |
Head of Institution | Siegfried Kofi Gbadago |
Regions active | Greater Accra Region |
# Branches | 2 |
Total Portfolio (nat'l) | GHS 271,000 |
Total Portfolio (USD) | USD 137,563.45 |
Active clients with loans | 621 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 0% - 20% |
Network affiliations | GCSCA, ASSFIN |
Funders | Intent Foundation |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | GHS 500 - 3,000 | 2 - 12 | 60% - 80% | 60% - 80% | Business | Women, Men, Have business, Usually must have run a business for at least 3 years | Credit Ins | |||||||
Group Loan | GHS 200 - 500 | 3 - 6 | 80% - 100% | 0% - 20% | Business, Housing, Education | Women, Men, Have business | Book keeping training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | 60.00%-120.00% annual, Flat | 2 Fees | 1 Ins | None | 30.00% upfront | 124.5% - 151.3% | 230.8% - 268.3% | 23 | ||||||||
Group Loan | 60.00%-96.00% annual, Flat | 2 Fees | 1 Ins | None | 20.00% upfront | 174% - 180% | 248.8% - 257.7% | 23 |
Outstanding portfolio (KES) | KES 267,734,546 |
Portfolio (USD) | USD 3,233,509.01 |
Active Clients with Loans | 1,985 |
Approximate % Female Clients | 40% - 60% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | x |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | x |
Other | |
Other (2) |
Credit education | x |
Group meetings | |
Credit insurance | x |
Workplace visits | x |
Business training | x |
Other training | x |
Other | |
Other (2) | |
No other services |
Men | x |
Women | x |
Must run a business | x |
Must own a home or land | x |
Must be a salaried worker | |
Must be specific age group | |
Other | |
Other (2) |
# Regions for this institution | 5 |
# Regions for this product | 5 |
Regions Active | Central, Coast, Eastern, Nairobi, Rift Valley |
Currency | KES |
Minimum loan size | KES 50,000 |
Maximum loan size | 3,000,000 |
Loans less than KES 50,000 | 15% |
KES 50,000-150,000 | 15% |
KES 150,000-250,000 | 15% |
KES 250,000-350,000 | 15% |
KES 350,000-450,000 | 10% |
Greater than KES 450,000 | 10% |
Shortest loan term | 3.0 months |
Longest loan term | 24.0 months |
Approx average | 12.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 5% |
Between 7 and 9 months | 20% |
Between 10 and 12 months | 50% |
Between 13 and 18 months | 15% |
Longer than 18 months | 10% |
Grace period usage | 100% |
Average grace period | 0.5 months |
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 | 1.83% |
Highest quoted nominal interest | 1.83% |
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 | Administration Fee | Disbursement Fee | |
% of loan amount - min | 3.00% | 0 | |
% of loan amount - max | 3.00% | 0 | |
OR, Fixed amount - min | 0 | 100 | |
Fixed amount - max | 0 | 1,000 | |
Reason for variation | N/A | Varies based on the method of disbursement. | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Insurance Fee |
% of loan amount - min | 2.00% |
% of loan amount - max | 2.00% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | N/A |
Appears on Repayment Sched? | No |
Required for | Some |
Criteria | Upfront compulsory deposit required only on loans below 300,000 KES which also do not have sufficient collateral. No continuing deposit requirement. |
Is deposit indicated on the repayment schedule? | No |
Do borrowers control deposit in their group? | No |
% loan amount deposited | 0 - 10.00% |
or, Fixed-amount deposited | N/A |
% loan amount deposited | N/A |
or, Fixed-amount deposited | N/A |
Conditions on access to deposit | End Term |
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 50,000 | KES 100,000 | KES 200,000 | KES 350,000 | KES 400,000 | KES 500,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2013-07-08 | 2013-08-27 | 2013-08-30 | 2013-08-30 | 2013-06-28 | 2013-07-22 | |||||
Loan Term (Months) | 7.0 months | 13.0 months | 13.0 months | 13.0 months | 19.0 months | 13.0 months | |||||
Grace Period (Months) | 0.4 months | 0.5 months | 0.4 months | 0.4 months | 0.5 months | 0.5 months | |||||
Total Cost of Credit | KES 9,028.03 | KES 28,563.74 | KES 56,390.19 | KES 98,532.80 | KES 158,201.27 | KES 143,038.90 | |||||
True Price by Comp | |||||||||||
Interest price component | 37.3% | 37.4% | 37.4% | 37.4% | 37.4% | 37.4% | |||||
Fee Component | 10.2% | 5.7% | 5.8% | 5.8% | 4.1% | 5.6% | |||||
Insurance Component | 6.6% | 3.9% | 4.0% | 3.9% | 2.8% | 3.8% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 9.9% | 8.8% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Full APR (int fee ins tax dep) | 64.0% | 55.8% | 47.2% | 47.1% | 44.3% | 46.8% | |||||
Transparency Index | 34 | 39 | 47 | 47 | 50 | 47 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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