Musoni Kenya Limited - Stawi ( Group business Loan) - MFTransparency.org Truth In Lending Tables

Please note that the information you are viewing is 119 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Please note that the information you are viewing is 141 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

Musoni Kenya Limited 25351Nairobi, Nairobi100

Data approved: 2015-03-27

Data version: 1

Age of data: 119 months

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Institution

Sinapi Aba Trust 22A Ellis Avenue Nhyiaeso, near Capital RadioKumasi, AshantiP.O. Box 4911

Data approved: 2013-03-13

Data version: 2

Age of data: 141 months

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Product

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Product Summary

97,009
GHS 200 - 900
6 - 10
Credit Educ, Group Mtgs, Credit Ins
22.00%-39.00% annual, Flat
2 fees
0.50%-2.00% ongoing
None
10.00% upfront

46.3% - 64.7%
6.8% - 18.2%
2.2% - 3.1%
0
94.4% - 97.8%
22 - 52
22

Product Details

This product either has less than 50 active borrowers or less than 10 loan disbursements over the past 9 months. MFTransparency presents basic data rather than full data for low volume products

Key Statistics

Outstanding portfolio (KES)	KES 14,775,291
Portfolio (USD)	USD 178,445.54
Active Clients with Loans	125
Approximate % Female Clients	40% - 60%
Approximate % Urban Clients	60% - 80%

Description

This business loan given to individuals within a group that have exhibited grouth in their entreprice and exoerience in managing group. Loans values from KES 75,000 to KES 250,000

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other	N/A
Other (2)	N/A

Eligibility

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	N/A
Other (2)	N/A

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# Regions for this institution	5
# Regions for this product	N/A
Regions Active

Product Details

Key Statistics

Outstanding portfolio (GHS)	GHS 29,430,370
Portfolio (USD)	USD 14,939,274.11
Active Clients with Loans	97,009
Approximate % Female Clients	80% - 100%
Approximate % Urban Clients	0% - 20%

Methodology

Individual
Solidarity group	x
Village banking
Self help group
Other

Description

Organized group lending of 5 to 15 economically disadvantaged individuals to enable business growth and development.

Loan Purpose

Any purpose
Income generation	x
Mortgage/housing
Consumer loan
Agriculture
Education
Other household finance
Other
Other (2)

Included Services

Credit education	x
Group meetings	x
Credit insurance	x
Workplace visits
Business training
Other training
Other
Other (2)
No other services

Eligibility

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)

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

# 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

Loan Conditions

Loan Amount

Currency	GHS
Minimum loan size	GHS 200
Maximum loan size	GHS 900

Distribution at Disbursement (Est.)

Loans less than GHS 1,000	100%
GHS 1,000-5,000	0
GHS 5,000-7,500	0
GHS 7,500-10,000	0
GHS 10,000-13,000	0
Greater than GHS 13,000	0

Loan Term and Grace Period

Shortest loan term	6.0 months
Longest loan term	10.0 months
Approx average	8.0 months

Distribution at Disbursement (Est.)

Loans 3 months or less	0
Between 4 and 6 months	90%
Between 7 and 9 months	10%
Between 10 and 12 months	0
Between 13 and 18 months	0
Longer than 18 months	0

Grace Period

Grace period usage	100%
Average grace period	0.5 months

Repayment Frequency

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

Pricing Information

Interest

Lowest quoted nominal interest	22.00%
Highest quoted nominal interest	39.00%
Reason(s) why interest rate varies	Time as Client, Client Risk
Interest rate period	Yearly
Interest Rate Calculation Method	Flat
Subsidized by funder request?	No
Is rate fixed for entire loan term	Yes

Upfront Fees

	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

Ongoing Fees

This product has no ongoing fees

Upfront Insurance Fees

This product has no upfront insurance fees

Ongoing Insurance Fees

	Ins 1
Description	Client Welfare Fee
% of loan amount - min	0.50%
% of loan amount - max	2.00%
OR, Fixed amount - min	0
Fixed amount - max	0
Reason for variation	Varies depending on loan term - 3 to 12 months. Fee is 2% p.a
Appears on Repayment Sched?	Yes

Compulsory Deposit

Required for	All
Criteria	N/A
Is deposit indicated on the repayment schedule?	No
Do borrowers control deposit in their group?	No

Deposit BEFORE or AT Disbursement

% loan amount deposited	10.00%
or, Fixed-amount deposited	0

Deposits DURING period payments

% loan amount deposited	0
or, Fixed-amount deposited	0
Conditions on access to deposit	End Term

Interest Paid on Deposit

Minimum interest rate paid	8.00%
Maximum interest rate paid	8.00%
Interest payment frequency	Monthly

Taxes

Are taxes charged on this product?	No

Are taxes charged on this product?

Full Pricing Data

Trust Bank samples

	Sample 1	Sample 2	Sample 3	Sample 4
Loan Amount	GHS 300	GHS 350	GHS 650	GHS 800
Loan Cycle (1, 2, 3, etc)	Not Known	Not Known	Not Known	Not Known
Disbursement Date	2013-02-07	2013-02-07	2013-01-24	2013-02-04
Loan Term (Months)	6.0 months	6.0 months	6.0 months	6.0 months
Grace Period (Months)	0.6 months	0.6 months	0.5 months	0.6 months
Total Cost of Credit	GHS 76.57	GHS 88.83	GHS 162.30	GHS 199.18
True Price by Comp
Interest price component	62.2%	62.2%	64.7%	62.8%
Fee Component	16.2%	15.6%	14.7%	14.0%
Insurance Component	2.9%	3.0%	3.1%	3.0%
Tax Component	0.0%	0.0%	0.0%	0.0%
Deposit Component	14.9%	14.8%	15.3%	14.6%
Full APR (int fee ins tax dep)	96.2%	95.6%	97.8%	94.4%
Transparency Index	23	23	22	23

Original Repayment Schedule	PDF	PDF	PDF	PDF
MFT Pricing Calculation	PDF	PDF	PDF	PDF

Trust Bank Price Graphs

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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

	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 ∞

Institution

Institution

Product

Product

Product Summary

Product Details

Key Statistics

Description

Loan Purpose

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Product Details

Key Statistics

Methodology

Description

Loan Purpose

Included Services

Eligibility

# Borrowers by Product

Portfolio Size by Product

Geographic Coverage

Loan Conditions

Loan Amount

Distribution at Disbursement (Est.)

Loan Term and Grace Period

Distribution at Disbursement (Est.)

Grace Period

Repayment Frequency

Pricing Information

Interest

Upfront Fees

Ongoing Fees

Upfront Insurance Fees

Ongoing Insurance Fees

Compulsory Deposit

Deposit BEFORE or AT Disbursement

Deposits DURING period payments

Interest Paid on Deposit

Taxes

Full Pricing Data

Trust Bank samples

Trust Bank Price Graphs

Total Borrowers of Samples

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