| Number borrowers | 11,801 |
| Loan Amount (range) | KES 3,000 - 3,000,000 |
| Loan Term (range) | 3 - 24 |
| Other Services (text summary) | Credit Ins |
| Annual Interest & Method | 18.0%-22.0% annual, Flat |
| Fees | 3.00% upfront |
| Insurance | 1.20% upfront |
| Tax | None |
| Comp Dep | 20.0%-30.0% upfront 400.00 ongoing |
| Range of pricing | |
| Interest Price Component | 19.3% - 39.1% |
| Fee Component | 3.3% - 11.5% |
| Insurance Component | 1.4% - 4.7% |
| Tax Component Range | 0 |
| Full APR (int fee ins tax dep) | 60.8% - 91.1% |
| Transparency Index (min/max) | 17 - 51 |
| Transparency Index (average) | 25 |
| 519 |
| GHS 5,000 - 50,000 |
| 6 - 12 |
| Credit Educ, Group Mtgs, Credit Ins, Business Training, Other Training |
| 36.00%-40.00% annual, Flat |
| 2 fees |
| 1.00%-4.00% ongoing |
| None |
| 10.00% upfront |
| 46.3% - 64.7% |
| 6.8% - 18.2% |
| 2.2% - 3.1% |
| 0 |
| 69.6% - 94.5% |
| 22 - 52 |
| 43 |
| Outstanding portfolio (KES) | KES 383,487,427 |
| Portfolio (USD) | USD 4,631,490.66 |
| Active Clients with Loans | 11,801 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | x |
| 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 | |
| Group meetings | |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| 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 | |
| Other (2) |
| # Regions for this institution | 7 |
| # Regions for this product | 7 |
| Regions Active | Central, Coast, Eastern, Nairobi, Nyanza, Rift Valley, Western |
| Outstanding portfolio (GHS) | GHS 3,736,210 |
| Portfolio (USD) | USD 1,896,553.30 |
| Active Clients with Loans | 519 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 80% - 100% |
| 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 | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| 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 | |
| Other | |
| Other (2) |
| # Regions for this institution | 10 |
| # Regions for this product | 10 |
| Regions Active | Greater Accra Region, Central Region, Western Region, Eastern Region, Volta Region, Ashanti Region, Brong Ahafo Region, Northern Region, Upper East Region, Upper West Region |
| Currency | KES |
| Minimum loan size | KES 3,000 |
| Maximum loan size | 3,000,000 |
| Loans less than KES 50,000 | 30% |
| KES 50,000-150,000 | 40% |
| KES 150,000-250,000 | 15% |
| KES 250,000-350,000 | 10% |
| KES 350,000-450,000 | 5% |
| Greater than KES 450,000 | 5% |
| Shortest loan term | 3.0 months |
| Longest loan term | 24.0 months |
| Approx average | 6.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 30% |
| Between 7 and 9 months | 30% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 5% |
| Longer than 18 months | 5% |
| 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 |
| Currency | GHS |
| Minimum loan size | GHS 5,000 |
| Maximum loan size | 50,000 |
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 0 |
| GHS 5,000-7,500 | 40% |
| GHS 7,500-10,000 | 30% |
| GHS 10,000-13,000 | 20% |
| Greater than GHS 13,000 | 20% |
| Shortest loan term | 6.0 months |
| Longest loan term | 12.0 months |
| Approx average | 8.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 10% |
| Between 7 and 9 months | 60% |
| Between 10 and 12 months | 30% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| 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 | x |
| Irregular payments |
| Lowest quoted nominal interest | 18.00% |
| Highest quoted nominal interest | 22.00% |
| Reason(s) why interest rate varies | Time as Client |
| 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 | Loan Application Fee |
| % of loan amount - min | 3.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Ins 1 | |
|---|---|
| Description | Annual Loan Protection Fee |
| % of loan amount - min | 1.20% |
| % of loan amount - max | 1.20% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | Yes |
| Required for | All |
| Criteria | Upfront: Sol group loans =20%. Individual loans =30%. |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | Yes |
| % loan amount deposited | 20.00% - 30.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | KES 400 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Lowest quoted nominal interest | 36.00% |
| Highest quoted nominal interest | 40.00% |
| Reason(s) why interest rate varies | Time as Client, Loan Purpose |
| 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 | Processing Fee | Training 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? | Yes | No |
| Ins 1 | |
|---|---|
| Description | Client Welfare Fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 4.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | Varies depending on loan term - 6 to 24 months. Fee is 2% p.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 | 10.00% |
| or, Fixed-amount deposited | 0 |
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
| Minimum interest rate paid | 8.00% |
| Maximum interest rate paid | 8.00% |
| Interest payment frequency | Monthly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | Sample 5 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 10,000 | KES 30,000 | KES 52,000 | KES 106,000 | KES 500,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-04-11 | 2013-05-14 | 2013-06-10 | 2013-06-10 | 2013-04-26 | ||||
| Loan Term (Months) | 6.0 months | 6.0 months | 12.0 months | 18.0 months | 24.0 months | ||||
| Grace Period (Months) | 0.1 months | -0.1 months | 0.0 months | 0.1 months | 0.1 months | ||||
| Total Cost of Credit | KES 1,520 | KES 4,560 | KES 11,544 | KES 35,139 | KES 246,999.67 | ||||
| True Price by Comp | |||||||||
| Interest price component | 35.3% | 36.7% | 31.0% | 31.6% | 36.9% | ||||
| Fee Component | 10.5% | 10.9% | 5.8% | 4.1% | 3.3% | ||||
| Insurance Component | 4.3% | 4.5% | 2.4% | 3.4% | 2.7% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 41.0% | 31.8% | 24.6% | 21.7% | 19.3% | ||||
| Full APR (int fee ins tax dep) | 91.1% | 83.9% | 63.8% | 60.8% | 62.2% | ||||
| Transparency Index | 20 | 21 | 28 | 30 | 29 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | GHS 6,000 | GHS 8,500 | GHS 18,000 | GHS 15,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2013-02-04 | 2013-02-18 | 2013-02-01 | 2013-03-08 | |||
| Loan Term (Months) | 8.0 months | 6.0 months | 13.0 months | 13.0 months | |||
| Grace Period (Months) | 0.4 months | 0.5 months | 0.5 months | 0.5 months | |||
| Total Cost of Credit | GHS 1,361 | GHS 2,052.62 | GHS 8,340.96 | GHS 6,900 | |||
| True Price by Comp | |||||||
| Interest price component | 46.3% | 63.5% | 61.2% | 60.9% | |||
| Fee Component | 10.3% | 13.1% | 6.8% | 6.8% | |||
| Insurance Component | 2.2% | 3.1% | 2.8% | 2.8% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 10.8% | 14.8% | 12.3% | 12.3% | |||
| Full APR (int fee ins tax dep) | 69.6% | 94.5% | 83.1% | 82.8% | |||
| Transparency Index | 52 | 38 | 43 | 43 | |||
| 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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