Institution Type | Non Bank Financial Institution |
Is this institution regulated? | Yes |
Website address | http://www.microafricagroup.com/ |
Year established | 2000 |
Head of Institution | James Mugambi |
Regions active | Central, Coast, Eastern, Nairobi, Rift Valley |
# Branches | 11 |
Total Portfolio (nat'l) | KES 770,993,115 |
Total Portfolio (USD) | USD 9,311,511.05 |
Active clients with loans | 13,164 |
Approximate % female clients | 40% - 60% |
Approximate % urban clients | 40% - 60% |
Network affiliations | |
Funders |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Biashara | KES 50,000 - 3,000,000 | 3 - 24 | 40% - 60% | 40% - 60% | Business, Housing, Other | Women, Men, Have business, Have home or land | Credit Educ, Credit Ins, Tech Asst Visits, Business Training, Other Training | |||||||
Group | KES 3,000 - 1,500,000 | 3 - 24 | 40% - 60% | 20% - 40% | Any Purpose | Women, Men, Have business, Must be known by the other members | Credit Educ, Group Mtgs, Credit Ins, Tech Asst Visits, Business Training, Other Training | |||||||
Maji Nyumbani | KES 6,192 - 63,184 | 3 - 12 | 60% - 80% | 0% - 20% | This loan is for the purchase of water tanks only | Women, Men | Credit Educ, Other Training | |||||||
Government Check Off | KES 1 - 1,000,000 | 3 - 60 | 0% - 20% | 20% - 40% | Any Purpose | Women, Men, Salaried worker | Credit Educ | |||||||
Payroll (MOU) | KES 1 - 300,000 | 3 - 24 | 0% - 20% | 20% - 40% | Any Purpose | Women, Men, Salaried worker | Credit Educ, Credit Ins | |||||||
Solar | KES 2,990 - 41,400 | 3 - 12 | 40% - 60% | 0% - 20% | Housing | Women, Men | Credit Educ, Other Training | |||||||
Emergency | KES 3,000 - 10,000 | 3 - 4 | 40% - 60% | 40% - 60% | Any Purpose | Women, Men | Credit Educ, Other Training | |||||||
School Fees | KES 10,000 - 50,000 | 3 - 6 | 60% - 80% | 40% - 60% | Education | Women, Men | Credit Educ, Group Mtgs, Other Training | |||||||
Biogas | KES 20,000 - 250,000 | 3 - 18 | 40% - 60% | 0% - 20% | Consumer | Women, Men, Have home or land | Credit Educ, Group Mtgs, Tech Asst Visits, Other Training |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Biashara | 22.0% annual, Flat | 2 Fees | 1 Ins | None | 41.5% - 47.5% | 44.3% - 64% | 44 | |||||||||
Group | 20.0% annual, Flat | 2 Fees | 1 Ins | None | 15.0%-20.0% upfront 400.00 ongoing | 37% - 42.9% | 59.1% - 79.9% | 31 | ||||||||
Maji Nyumbani | 22.0% annual, Flat | 0 Fees | 1 Ins | None | 10.0%-20.0% upfront | 37.9% - 38.5% | 49.8% - 52% | 43 | ||||||||
Government Check Off | 23.3%-30.0% annual, Flat | 2 Fees | 1 Ins | None | N/A | 49.8% - 51.9% | 50.9% - 52.4% | 45 | ||||||||
Payroll (MOU) | 22.0% annual, Flat | 2 Fees | 1 Ins | None | N/A | 41.9% - 46% | 43.7% - 49.1% | 48 | ||||||||
Solar | 20.0% annual, Flat | 0 Fees | 0 Ins | None | N/A | 34.4% - 35.6% | 34.4% - 35.6% | 57 | ||||||||
Emergency | 18.0% annual, Flat | 1 Fee | 1 Ins | None | N/A | 29.7% - 31.6% | 38.6% - 41.2% | 45 | ||||||||
School Fees | 22.0% annual, Flat | 0 Fees | 1 Ins | None | N/A | 31.6% - 34.2% | 37.8% - 40.9% | 91 | ||||||||
Biogas | 20.0% annual, Flat | 2 Fees | 1 Ins | None | N/A | 32.3% - 32.4% | 35.8% - 35.9% | 56 |
Outstanding portfolio (RWF) | RWF 218,924,812 |
Portfolio (USD) | USD 347,500 |
Active Clients with Loans | 125 |
Approximate % Female Clients | 20% - 40% |
Approximate % Urban Clients | 0% - 20% |
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 | Credit Agricole Avec Subvention RIF2 |
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 | x |
Must own a home or land | |
Must be a salaried worker | |
Must be specific age group | |
Other | Autrest Immobilisations |
Other (2) |
# Regions for this institution | 2 |
# Regions for this product | 4 |
Regions Active | Ngororero, Nyabihu, Rubavu, Rutsiro |
Currency | RWF |
Minimum loan size | RWF 1,000,000 |
Maximum loan size | 5,000,000 |
Loans less than RWF 500,000 | 0 |
RWF 500,000-1,500,000 | 20% |
RWF 1,500,000-2,500,000 | 20% |
RWF 2,500,000-3,500,000 | 20% |
RWF 3,500,000-4,500,000 | 20% |
Greater than RWF 4,500,000 | 20% |
Shortest loan term | 13.0 months |
Longest loan term | 36.0 months |
Approx average | 18.0 months |
Loans 3 months or less | 0 |
Between 4 and 6 months | 0 |
Between 7 and 9 months | 0 |
Between 10 and 12 months | 0 |
Between 13 and 18 months | 90% |
Longer than 18 months | 10% |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
Every 2 months | |
Quarterly | x |
Every 6 months | |
Every 12 months | |
Single end payment | |
Irregular payments |
Lowest quoted nominal interest | 19.00% |
Highest quoted nominal interest | 19.00% |
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 | Commission Fee | Paper Fee | |
% of loan amount - min | 2.00% | 0 | |
% of loan amount - max | 2.00% | 0 | |
OR, Fixed amount - min | 0 | 600 | |
Fixed amount - max | 0 | 600 | |
Reason for variation | N/A | N/A | |
Appears on Repayment Sched? | No | No |
Ins 1 | |
---|---|
Description | Credit Life Insurance |
% of loan amount - min | 0.17% |
% of loan amount - max | 5.58% |
OR, Fixed amount - min | 0 |
Fixed amount - max | 0 |
Reason for variation | Depends on client age & loan term |
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 | 20.00% |
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 | 0 |
Maximum interest rate paid | 0 |
Interest payment frequency | N/A |
Are taxes charged on this product? | Yes |
Percentage of fees | 18% |
All or some fees taxed | All |
Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
---|---|---|---|---|---|---|---|
Loan Amount | RWF 1,000,000 | RWF 2,000,000 | RWF 3,000,000 | RWF 3,800,000 | |||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
Disbursement Date | 2012-08-16 | 2012-02-02 | 2012-01-19 | 2012-03-26 | |||
Loan Term (Months) | 12.0 months | 18.0 months | 25.0 months | 37.0 months | |||
Grace Period (Months) | 1.0 month | 3.0 months | 1.4 months | 3.1 months | |||
Total Cost of Credit | RWF 129,915.40 | RWF 383,098.40 | RWF 699,647.80 | RWF 1,273,860.50 | |||
True Price by Comp | |||||||
Interest price component | 18.8% | 18.6% | 18.8% | 18.5% | |||
Fee Component | 4.1% | 2.5% | 2.1% | 1.5% | |||
Insurance Component | 0.5% | 0.2% | 0.5% | 0.2% | |||
Tax Component | 0.8% | 0.5% | 0.5% | 0.3% | |||
Deposit Component | 13.2% | 10.2% | 11.5% | 9.8% | |||
Full APR (int fee ins tax dep) | 37.4% | 32.0% | 33.4% | 30.3% | |||
Transparency Index | 51 | 59 | 57 | 63 | |||
Original Repayment Schedule | |||||||
MFT Pricing Calculation |
Key Statistics | |
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# 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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