| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | No |
| Website address | http://opportunity.net/kenya/ |
| Year established | 2006 |
| Head of Institution | Lydia Njoroge |
| Regions active | Nairobi, Nyanza, Rift Valley, Western |
| # Branches | 11 |
| Total Portfolio (nat'l) | KES 402,920,910 |
| Total Portfolio (USD) | USD 4,866,194.57 |
| Active clients with loans | 9,122 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 60% - 80% |
| Network affiliations | Opportunity International, AMFI |
| Funders | Opportunity International USA, Wedco Enterprises Limited |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Msingi Loan | KES 10,000 - 500,000 | 6 - 36 | 40% - 60% | 60% - 80% | Business | Women, Men, Have business, Must have run a business for at least 12 months | Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance | |||||||
| Nguzo Loan | KES 50,000 - 500,000 | 6 - 36 | 40% - 60% | 60% - 80% | Business | Women, Men, Have business, Must have run a business for at least 24 months | Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance | |||||||
| Somesha (Education) Loan | KES 5,000 - 100,000 | 3 - 12 | 40% - 60% | 60% - 80% | Education | Women, Men, Must be attending an educational institution or have a dependent attending | Credit Educ, Group Mtgs, Credit Ins, Other Training, Fire/Burglary Insurance | |||||||
| Asset Loan | KES 5,000 - 2,000,000 | 6 - 36 | 20% - 40% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins, Other Training |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Msingi Loan | 22.0% annual, Flat | 2 Fees | 1 Ins | None | 20.0% upfront 100.00 ongoing | 41.8% - 59.8% | 64.2% - 135% | 26 | ||||||||
| Nguzo Loan | 22.0% annual, Flat | 2 Fees | 1 Ins | None | 25.0% upfront 200.00 ongoing | 39.9% - 49.3% | 67.5% - 112.5% | 27 | ||||||||
| Somesha (Education) Loan | 16.0% annual, Flat | 1 Fee | 1 Ins | None | 10.0% upfront | 34% - 44% | 45.6% - 59.7% | 33 | ||||||||
| Asset Loan | 22.0% annual, Flat | 2 Fees | 1 Ins | None | 15.0% upfront | 42.7% - 46.9% | 61% - 71.9% | 34 |
| Outstanding portfolio (GHS) | GHS 312,937.43 |
| Portfolio (USD) | USD 158,851.49 |
| Active Clients with Loans | 90 |
| Approximate % Female Clients | 40% - 60% |
| Approximate % Urban Clients | 100% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | x |
| Other | |
| Other (2) |
| Credit education | |
| Group meetings | |
| Credit insurance | |
| 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 | x |
| Must be specific age group | |
| Other | |
| Other (2) |
| # Regions for this institution | 6 |
| # Regions for this product | 2 |
| Regions Active | Greater Accra Region, Ashanti Region |
| Currency | GHS |
| Minimum loan size | GHS 2,000 |
| Maximum loan size | 10,000 |
| Loans less than GHS 1,000 | 0 |
| GHS 1,000-5,000 | 50% |
| GHS 5,000-7,500 | 40% |
| GHS 7,500-10,000 | 10% |
| GHS 10,000-13,000 | 0 |
| Greater than GHS 13,000 | 0 |
| Shortest loan term | 3.0 months |
| Longest loan term | 6.0 months |
| Approx average | 3.0 months |
| Loans 3 months or less | 90% |
| Between 4 and 6 months | 10% |
| 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 | |
| Every 2 weeks | |
| Every 4 weeks | |
| Monthly | x |
| Every 2 months | |
| Quarterly | x |
| Every 6 months | x |
| Every 12 months | |
| Single end payment | |
| Irregular payments |
| Lowest quoted nominal interest | 44.00% |
| Highest quoted nominal interest | 48.00% |
| 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 | Commitment 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 | 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% - 25.00% |
| 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 | 5.00% |
| Maximum interest rate paid | 5.00% |
| Interest payment frequency | Quarterly |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | |||
|---|---|---|---|---|---|
| Loan Amount | GHS 8,018 | GHS 6,000 | GHS 3,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2013-05-03 | 2013-05-02 | 2013-06-21 | ||
| Loan Term (Months) | 3.1 months | 3.1 months | 3.1 months | ||
| Grace Period (Months) | 1.1 months | 1.1 months | 0.1 months | ||
| Total Cost of Credit | GHS 1,041.36 | GHS 780 | GHS 420 | ||
| True Price by Comp | |||||
| Interest price component | 41.4% | 41.4% | 45.0% | ||
| Fee Component | 8.0% | 8.1% | 8.0% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 8.3% | 8.3% | 8.9% | ||
| Full APR (int fee ins tax dep) | 57.7% | 57.8% | 61.9% | ||
| Transparency Index | 76 | 76 | 71 | ||
| 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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