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 (UGX) | UGX 10,832,121,611 |
Portfolio (USD) | USD 4,289,949.15 |
Active Clients with Loans | 26,944 |
Approximate % Female Clients | 100% |
Approximate % Urban Clients | 0% - 20% |
Individual | |
Solidarity group | x |
Village banking | |
Self help group | |
Other |
Any purpose | x |
Income generation | |
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 | |
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 | 5 |
Regions Active | Central, Eastern, Northern, Western, Southern |
Currency | UGX |
Minimum loan size | UGX 350,000 |
Maximum loan size | 2,500,000 |
Loans less than UGX 1,000,000 | 60% |
UGX 1,000,000-5,000,000 | 40% |
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 | 5.0 months |
Longest loan term | 7.0 months |
Approx average | 5.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 100% |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
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 | 25.00% |
Highest quoted nominal interest | 25.00% |
Interest rate period | Yearly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | No |
Is rate fixed for entire loan term | Yes |
Fee 1 | Fee 2 | ||
---|---|---|---|
Description | Loan Appraisal | Membership Fee | |
% of loan amount - min | 0 | 0 | |
% of loan amount - max | 0 | 0 | |
OR, Fixed amount - min | 1,500 | 1,500 | |
Fixed amount - max | 1,500 | 1,500 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | Yes | 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 | 10.00% |
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 |
Loan Amount |
Type of Sample |
Disbursement Date |
Loan Term (Months) |
Grace Period (Months) |
Total Cost of Credit |
Full APR (int fee ins tax dep) |
True Price by Component |
Transparency Index |
Original Repayment Schedule |
MFT Pricing Calculation |
||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Interest price component |
Fee Component |
Insurance Component |
Tax Component |
Deposit Component |
||||||||||
UGX 350,000 | Generated | 2015-01-01 | 5.8 months | N/A | UGX 44,952.05 | 60.7% | 46.3% | 3.5% | 0.0% | 0.0% | 10.9% | 41 | - | |
UGX 675,000 | Generated | 2015-01-01 | 5.8 months | N/A | UGX 83,907.53 | 58.5% | 46.3% | 1.8% | 0.0% | 0.0% | 10.4% | 43 | - | |
UGX 900,000 | Generated | 2015-01-01 | 5.8 months | N/A | UGX 110,876.71 | 58.0% | 46.3% | 1.3% | 0.0% | 0.0% | 10.4% | 43 | - | |
UGX 1,800,000 | Generated | 2015-01-01 | 5.8 months | N/A | UGX 218,753.42 | 57.1% | 46.3% | 0.7% | 0.0% | 0.0% | 10.1% | 44 | - | |
UGX 2,500,000 | Generated | 2015-01-01 | 5.8 months | N/A | UGX 302,657.53 | 56.9% | 46.3% | 0.5% | 0.0% | 0.0% | 10.1% | 44 | - | |
UGX 3,200,000 | Generated | 2015-01-01 | 5.8 months | N/A | UGX 386,561.64 | 56.7% | 46.3% | 0.3% | 0.0% | 0.0% | 10.1% | 44 | - | |
UGX 4,300,000 | Generated | 2015-01-01 | 5.8 months | N/A | UGX 518,410.96 | 56.6% | 46.3% | 0.2% | 0.0% | 0.0% | 10.1% | 44 | - | |
UGX 5,000,000 | Generated | 2015-01-01 | 5.8 months | N/A | UGX 602,315.07 | 56.6% | 46.3% | 0.2% | 0.0% | 0.0% | 10.1% | 44 | - |
Key Statistics | |
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% Products using declining balance | |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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