| Institution Type | Non Bank Financial Institution |
| Is this institution regulated? | Yes |
| Website address | http://www.microafricagroup.com/ |
| Year established | 2004 |
| Head of Institution | Bernard Kivava |
| Regions active | Muhanga, Musanze, Nyarugenge |
| # Branches | 4 |
| Total Portfolio (nat'l) | RWF 2,223,220,010 |
| Total Portfolio (USD) | USD 3,473,781.27 |
| Active clients with loans | 4,960 |
| Approximate % female clients | 20% - 40% |
| Approximate % urban clients | 20% - 40% |
| Network affiliations | AMIR |
| Funders | Micro Africa Ltd, Ezra Bunyenyezi |
| Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group Loan | RWF 30,000 - 1,000,000 | 6 - 12 | 40% - 60% | 40% - 60% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins | |||||||
| Salary Loan | RWF 100,000 - 5,000,000 | 6 - 12 | 40% - 60% | 80% - 100% | Any Purpose | Women, Men, Salaried worker | Credit Educ, Group Mtgs, Credit Ins | |||||||
| SME Loan | RWF 1,000,000 - 15,000,000 | 6 - 24 | 40% - 60% | 60% - 80% | Business | Women, Men, Have business | Credit Educ, Group Mtgs, Credit Ins |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group Loan | 48.00% annual, Decl Bal | 1 Fee | 1 Ins | None | 10.00% upfront | 59% - 62.4% | 72.5% - 78.4% | 63 | ||||||||
| Salary Loan | 48.00%-60.00% annual, Decl Bal | 2 Fees | 1 Ins | None | N/A | 52.7% - 67.3% | 55.3% - 71.4% | 75 | ||||||||
| SME Loan | 48.00%-60.00% annual, Decl Bal | 1 Fee | 1 Ins | None | 0.00%-20.00% upfront | 56.2% - 66.3% | 88.3% - 101.3% | 49 |
| Outstanding portfolio (PHP) | PHP 469,279 |
| Portfolio (USD) | USD 11,226.77 |
| Active Clients with Loans | 708 |
| Approximate % Female Clients | 80% - 100% |
| Approximate % Urban Clients | 80% - 100% |
| Individual | x |
| Solidarity group | |
| Village banking | |
| Self help group | |
| Other | Borrower needs 2 co-makers as guarantors |
| Any purpose | |
| Income generation | |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Health |
| Other (2) |
| Credit education | |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | Health checks |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | x |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must be in loan cycle 2 of K-Negosyo |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | PHP |
| Minimum loan size | PHP 380 |
| Maximum loan size | 3,920 |
| Shortest loan term | 3.0 months |
| Longest loan term | 6.0 months |
| Approx average | 3.0 months |
| 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 | 2.50% |
| Highest quoted nominal interest | 2.50% |
| Interest rate period | Monthly |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | |
| Is rate fixed for entire loan term | 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 | |||
|---|---|---|---|---|---|
| Loan Amount | PHP 1,960 | PHP 2,140 | PHP 2,140 | ||
| Loan Cycle (1, 2, 3, etc) | 1 | 1 | 1 | ||
| Disbursement Date | 2011-03-11 | 2011-03-29 | 2011-03-11 | ||
| Loan Term (Months) | 5.8 months | 5.8 months | 5.8 months | ||
| Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | ||
| Total Cost of Credit | Not Known | Not Known | Not Known | ||
| True Price by Comp | |||||
| Interest and Fee Component | 60.3% | 57.8% | 59.9% | ||
| Insurance Component | 0.0% | 0.0% | 0.0% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 60.3% | 57.8% | 59.9% | ||
| Transparency Index | 50 | 52 | 50 | ||
| 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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