| Institution Type | Credit Union / Cooperative |
| Is this institution regulated? | Yes |
| Website address | N/A |
| Year established | 2007 |
| Head of Institution | Jean Louis Musoni |
| Regions active | Gasabo, Kicukiro, Nyarugenge |
| # Branches | 3 |
| Total Portfolio (nat'l) | RWF 518,625,185 |
| Total Portfolio (USD) | USD 823,214.58 |
| Active clients with loans | 511 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 0% - 20% |
| Network affiliations | AMIR |
| Funders | Youth Ministry, National Youth Council, Districts |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Autres Loan | RWF 50,000 - 3,000,000 | 3 - 24 | 0% - 20% | 40% - 60% | Consumer, Education, Other | Women, Men | Credit Educ | |||||||
| Trade Loan | RWF 300,000 - 5,000,000 | 1 - 24 | 0% - 20% | 60% - 80% | Business | Women, Men, Have business, other cooperative, SME's | Credit Educ, Business Training | |||||||
| Transport Loan | RWF 500,000 - 5,000,000 | 12 - 36 | 0% - 20% | 40% - 60% | Business | Women, Men | Credit Educ | |||||||
| Salary Advance Loan | RWF 50,000 - 3,000,000 | 3 - 24 | 0% - 20% | 80% - 100% | Any Purpose | Women, Men, Salaried worker | Credit Educ |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Autres Loan | 48.00% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 26.3% - 76.1% | 26.3% - 76.1% | 88 | ||||||||
| Trade Loan | 18.00%-36.00% annual, Decl Bal | 2 Fees | 1 Ins | None | 25.00% upfront | 26.4% - 31.4% | 44.8% - 54.5% | 37 | ||||||||
| Transport Loan | 16.00%-18.00% annual, Decl Bal | 2 Fees | 0 Ins | None | 25.00% upfront | 24.5% - 29.1% | 38.9% - 48.6% | 38 | ||||||||
| Salary Advance Loan | 15.00%-24.00% annual, Decl Bal | 2 Fees | 0 Ins | None | N/A | 15.9% - 28.2% | 15.9% - 28.2% | 61 |
| Outstanding portfolio (TZS) | TZS 26,697,406,938 |
| Portfolio (USD) | USD 16,790,821.97 |
| Active Clients with Loans | 100,061 |
| Approximate % Female Clients | 100% |
| Approximate % Urban Clients | 20% - 40% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other | 15-30 individual in one group |
| 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 | |
| Other training | x |
| Other | Training on health, women empowerment and income generating opportunities. |
| Other (2) | |
| No other services |
| Men | |
| Women | x |
| Must run a business | x |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | x |
| Other | 20- 50 years old |
| Other (2) |
| # Regions for this institution | 18 |
| # Regions for this product | 18 |
| Regions Active | Arusha, Dar es Salaam, Dodoma, Iringa, Kagera, Kilimanjaro, Manyara, MaraMbeya, Morogoro, Mwanza, ShinyangaSingida, Tabora, Tanga, Zanzibar Central/South, Zanzibar North, Zanzibar Urban/West |
| Currency | TZS |
| Minimum loan size | TZS 175,000 |
| Maximum loan size | 2,600,000 |
| Loans less than TZS 350,000 | 30% |
| TZS 350,000-1,250,000 | 60% |
| TZS 1,250,000-2,000,000 | 5% |
| TZS 2,000,000-3,000,000 | 5% |
| TZS 3,000,000-4,000,000 | 0 |
| Greater than TZS 4,000,000 | 0 |
| Shortest loan term | 6.0 months |
| Longest loan term | 12.0 months |
| Approx average | 10.0 months |
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 20% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 80% |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
| Grace period usage | 0 |
| Average grace period | 0 |
| 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 | 0.63% |
| Highest quoted nominal interest | 0.65% |
| Reason(s) why interest rate varies | Time as Client, 13% for 20 weeks and 25% for 40 weeks. |
| Interest rate period | Weekly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Appraisal fee |
| % of loan amount - min | 1.00% |
| % of loan amount - max | 1.00% |
| 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 | 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 | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
| Are taxes charged on this product? | No |
| Sample 1 | Sample 2 | Sample 3 | Sample 4 | ||||
|---|---|---|---|---|---|---|---|
| Loan Amount | TZS 200,000 | TZS 450,000 | TZS 900,000 | TZS 1,100,000 | |||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | |||
| Disbursement Date | 2013-04-10 | 2013-02-27 | 2013-03-22 | 2013-04-01 | |||
| Loan Term (Months) | 4.6 months | 9.0 months | 9.0 months | 9.0 months | |||
| Grace Period (Months) | 0.0 months | -0.2 months | -0.1 months | 0.0 months | |||
| Total Cost of Credit | TZS 28,000 | TZS 118,500 | TZS 237,000 | TZS 287,000 | |||
| True Price by Comp | |||||||
| Interest price component | 62.8% | 62.0% | 61.1% | 58.7% | |||
| Fee Component | 5.3% | 2.9% | 2.8% | 2.8% | |||
| Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | |||
| Deposit Component | 14.6% | 13.4% | 13.1% | 12.3% | |||
| Full APR (int fee ins tax dep) | 82.7% | 78.3% | 77.0% | 73.8% | |||
| Transparency Index | 39 | 42 | 42 | 44 | |||
| Original Repayment Schedule | |||||||
| MFT Pricing Calculation |
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| % 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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