| Number borrowers | 29,548 |
| Loan Amount (range) | KES 1,000 - 100,000 |
| Loan Term (range) | 1 - 12 |
| Other Services (text summary) | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training |
| Annual Interest & Method | 8.0% annual, Flat |
| Fees | 2.00%-3.00% upfront |
| Insurance | 0.63% upfront |
| Tax | None |
| Comp Dep | 15.0% upfront |
| Range of pricing | |
| Interest Price Component | 13.4% - 37.3% |
| Fee Component | 0 - 11.0% |
| Insurance Component | 0 - 2.3% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 20.3% - 21.8% |
| Transparency Index (min/max) | 37 - 83 |
| Transparency Index (average) | 38 |
| 53 |
| GHS 5,000 - 100,000 |
| 3 - 37 |
| Credit Educ |
| 39.0% annual, Decl Bal |
| 3.50% upfront 3.00 upfront |
| 1.00% ongoing |
| None |
| 15.0% upfront |
| 33.9% - 69.6% |
| 2.9% - 24.0% |
| 0.5% - 4.4% |
| 0 |
| 55.6% - 61.3% |
| 31 - 88 |
| 66 |
| Outstanding portfolio (KES) | KES 1,035,934,565 |
| Portfolio (USD) | USD 12,511,287.02 |
| Active Clients with Loans | 29,548 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | x |
| Solidarity group | |
| Village banking | x |
| 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 | 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 | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Other | Must have undergone group training |
| Other (2) | Mustbe 18-35 years old |
| # Regions for this institution | 8 |
| # Regions for this product | 8 |
| Regions Active | Central, Coast, Eastern, Nairobi, North Eastern, Nyanza, Rift Valley, Western |
| Outstanding portfolio (GHS) | GHS 476,439 |
| Portfolio (USD) | USD 241,847.21 |
| Active Clients with Loans | 53 |
| Approximate % Female Clients | 0 |
| Approximate % Urban Clients | 60% - 80% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Institutional loan |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Financing church building |
| Other (2) |
| Credit education | x |
| Group meetings | |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Fully registered functioning church |
| Other (2) |
| # Regions for this institution | 6 |
| # Regions for this product | 6 |
| Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Ashanti Region, Brong Ahafo Region |
| Currency | KES |
| Minimum loan size | KES 1,000 |
| Maximum loan size | 100,000 |
| Loans less than KES 50,000 | 60% |
| KES 50,000-150,000 | 40% |
| KES 150,000-250,000 | 0 |
| KES 250,000-350,000 | 0 |
| KES 350,000-450,000 | 0 |
| Greater than KES 450,000 | 0 |
| Shortest loan term | 1.0 month |
| 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 | 30% |
| Between 10 and 12 months | 50% |
| 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 | x |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Currency | GHS |
| Minimum loan size | GHS 5,000 |
| Maximum loan size | 100,000 |
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 20% |
| GHS 7,500-10,000 | 20% |
| GHS 10,000-13,000 | 20% |
| Greater than GHS 13,000 | 20% |
| Shortest loan term | 3.0 months |
| Longest loan term | 37.0 months |
| Approx average | 20.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 70% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 30% |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| 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 | 8.00% |
| Highest quoted nominal interest | 8.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| 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? | Yes |
| 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 | All |
| Criteria | Savings interest depends on the balance that is in the account |
| Is deposit indicated on the repayment schedule? | No |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 15.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | When Leaving |
| Minimum interest rate paid | 1.00% |
| Maximum interest rate paid | 3.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 39.00% |
| Highest quoted nominal interest | 39.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | Fee 2 | ||
|---|---|---|---|
| Description | Processing Fee | Application Fee | |
| % of loan amount - min | 3.50% | 0 | |
| % of loan amount - max | 3.50% | 0 | |
| OR, Fixed amount - min | 0 | 3 | |
| Fixed amount - max | 0 | 3 | |
| Reason for variation | N/A | N/A | |
| Appears on Repayment Sched? | No | 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 | 1% of total loan amount, divided and charged equally throughout loan term. |
| Appears on Repayment Sched? | 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 | 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 | 3.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | KES 7,999.96 | KES 24,999.98 | KES 99,999.96 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-05-27 | 2013-05-11 | 2013-05-09 | ||
| Loan Term (Months) | 5.9 months | 6.0 months | 12.0 months | ||
| Grace Period (Months) | -0.2 months | 0.0 months | 0.2 months | ||
| Total Cost of Credit | KES 357.94 | KES 1,156.21 | KES 8,624.92 | ||
| True Price by Comp | |||||
| Interest price component | 13.8% | 13.4% | 13.9% | ||
| Fee Component | 0.0% | 0.0% | 0.0% | ||
| Insurance Component | 2.3% | 2.2% | 1.1% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 5.7% | 5.2% | 5.3% | ||
| Full APR (int fee ins tax dep) | 21.8% | 20.8% | 20.3% | ||
| Transparency Index | 37 | 38 | 39 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | GHS 6,000 | GHS 9,000 | GHS 12,000 | GHS 15,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2012-07-17 | 2012-06-29 | 2012-11-23 | 2012-03-23 | |||
| Loan Term (Months) | 25.0 months | 13.0 months | 18.0 months | 37.0 months | |||
| Grace Period (Months) | 0.4 months | 1.0 month | 0.0 months | 0.0 months | |||
| Total Cost of Credit | GHS 2,810.68 | GHS 2,625.71 | GHS 4,276.98 | GHS 9,803.87 | |||
| True Price by Comp | |||||||
| Interest price component | 38.7% | 38.8% | 38.8% | 38.8% | |||
| Fee Component | 4.3% | 6.5% | 5.4% | 3.3% | |||
| Insurance Component | 0.8% | 1.5% | 1.2% | 0.5% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 14.0% | 14.5% | 15.2% | 13.0% | |||
| Full APR (int fee ins tax dep) | 57.8% | 61.3% | 60.6% | 55.6% | |||
| Transparency Index | 67 | 64 | 64 | 70 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
| Key Statistics | |
|---|---|
| # Samples: | |
| # Products | |
| # Institutions | |
| # Countries | |
| # 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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