| Outstanding portfolio (KES) | KES 6,484,680 |
| Portfolio (USD) | USD 78,317.39 |
| Active Clients with Loans | 292 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | x |
| Education | |
| Other household finance | |
| Other | |
| Other (2) |
| Credit education | x |
| 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 | 6 |
| # Regions for this product | 6 |
| Regions Active | Central, Eastern, Nairobi, Nyanza, Rift Valley, Western |
| Currency | KES |
| Minimum loan size | KES 5,000 |
| Maximum loan size | 200,000 |
| Loans less than KES 50,000 | 80% |
| KES 50,000-150,000 | 20% |
| 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 | 6.0 months |
| Longest loan term | 12.0 months |
| Approx average | 9.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 0 |
| Between 7 and 9 months | 10% |
| Between 10 and 12 months | 90% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 100% |
| Average grace period | 1.0 month |
| 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 | 20.00% |
| Highest quoted nominal interest | 20.00% |
| 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 | Loan Processing 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? | Yes |
| Ins 1 | |
|---|---|
| Description | Risk Management 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? | Yes |
| Required for | Never |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | N/A |
| Do borrowers control deposit in their group? | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| % loan amount deposited | N/A |
| or, Fixed-amount deposited | N/A |
| Conditions on access to deposit | N/A |
| 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 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Loan Amount | KES 10,000 | KES 20,000 | KES 50,000 | KES 95,000 | KES 200,000 | ||||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | ||||
| Disbursement Date | 2013-04-11 | 2013-06-19 | 2013-05-01 | 2013-06-05 | 2013-05-24 | ||||
| Loan Term (Months) | 12.0 months | 5.8 months | 12.0 months | 12.0 months | 12.0 months | ||||
| Grace Period (Months) | 0.7 months | 0.7 months | 0.7 months | 0.7 months | 0.7 months | ||||
| Total Cost of Credit | KES 2,400.16 | KES 2,800 | KES 12,000 | KES 22,800 | KES 48,000 | ||||
| True Price by Comp | |||||||||
| Interest price component | 35.4% | 34.6% | 35.4% | 35.4% | 35.4% | ||||
| Fee Component | 4.1% | 7.4% | 4.1% | 4.1% | 4.1% | ||||
| Insurance Component | 4.1% | 7.6% | 4.1% | 4.1% | 4.1% | ||||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Deposit Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | ||||
| Full APR (int fee ins tax dep) | 43.6% | 49.6% | 43.6% | 43.6% | 43.6% | ||||
| Transparency Index | 46 | 40 | 46 | 46 | 46 | ||||
| Original Repayment Schedule | |||||||||
| MFT Pricing Calculation |
| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.africangatesupport.com/ |
| Year established | 2008 |
| Head of Institution | Joris Eduamah |
| Regions active | Western Region |
| # Branches | 2 |
| Total Portfolio (nat'l) | GHS 93,619 |
| Total Portfolio (USD) | USD 47,522.34 |
| Active clients with loans | 225 |
| Approximate % female clients | 60% - 80% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | |
| Funders | Neurotical Ideas Ltd |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group Loan | GHS 100 - 5,000 | 1 - 6 | 80% - 100% | 40% - 60% | Business, Housing, Consumer, Education | Women, Men | Group Mtgs, Business Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group Loan | 72.00%-88.20% annual, Flat | 1 Fee | 0 | None | 20.00%- upfront | 168.1% - 207.8% | 242.2% - 311.7% | 25 |
| 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 |
|---|---|---|---|---|---|---|---|
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| N (# of Samples) | ||||||
| Total Borrrowers of Samples | ||||||
| Avg | ||||||
| Min | ||||||
| Max | ||||||
| Std Dev | ||||||
| By Inst Type | ||||||
| By Country | ||||||
| X Axis | ||||||
|---|---|---|---|---|---|---|
| Greater than: | ||||||
| Less or equal to: | ||||||
| From 0 to | ||||||
| to | ||||||
| to | ||||||
| to ∞ | ||||||
