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Institution

Specialised Financial and Promotional Institution Bole Sub CityAddis AbabaPO Box 10689
Data approved: 2011-12-23
Data version: 1
Age of data: 94 months

Institution

Rich Step Investment Head OfficeTemaKpone, Greater AccraP.O. Box SC116
Data approved: 2013-03-14
Data version: 2
Age of data: 76 months

Institution Details

Institution TypeNon Bank Financial Institution
Is this institution regulated?Yes
Website addressN/A
Year established1997
Head of InstitutionMr Solomon W.Giorgis
Regions active
# Branches10

Total Portfolio (nat'l)ETB 50,807,161
Total Portfolio (USD)USD 2,761,258.75
Active clients with loans33,342
Approximate % female clients40% - 60%
Approximate % urban clients20% - 40%
Network affiliationsAEMFI
FundersTerrafina Microfinance, SOS Faim, CIDR, UNCDF

Institution Details

Institution TypeNon Bank Financial Institution
Is this institution regulated?Yes
Website addresshttp://www.richstepinvestment.com
Year established2007
Head of InstitutionStephen Dzovor
Regions activeGreater Accra Region
# Branches9

Total Portfolio (nat'l)GHS 200,000
Total Portfolio (USD)USD 101,522.84
Active clients with loans150
Approximate % female clients60% - 80%
Approximate % urban clients80% - 100%
Network affiliationsGHAMFIN, GCSCA
Funders

Loan Products » Summary

32,000 Borrowers
USD 2,608,695.65 Portfolio
Active Product
1,500 Borrowers
USD 130,434.78 Portfolio
Active Product
100 Borrowers
USD 10,869.57 Portfolio
Active Product

Loan Products » Summary

150 Borrowers
USD 101,522.84 Portfolio
Active Product

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Group Loan ETB 100 - 30,000 12 - 30 40% - 60% 40% - 60% Any Purpose Women, Men Credit Educ, Group Mtgs
Individual Loan ETB 10,000 - 120,000 12 - 30 40% - 60% 80% - 100% Any Purpose Women, Men Credit Educ, Business Training
Youth Loan Product ETB 5,000 - 30,000 12 - 24 20% - 40% 80% - 100% Business Women, Men, Specific age group Group Mtgs, Business Training

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Petty Traders Loan GHS 50 - 1,000 1 - 5 40% - 60% 80% - 100% Business Women, Men, Have business, Have home or land, Specific age group Group Mtgs, Credit Ins, Other Training

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Group Loan 16.0%-24.0% annual, Flat 0 Fees 0 Ins None 5.0%-10.0% upfront 28.3% - 30.2% 30.6% - 35.2% 47
Individual Loan 16.0%-20.0% annual, Flat 0 Fees 0 Ins None 5.0%-10.0% upfront 29.4% - 30.9% 34.4% - 36% 45
Youth Loan Product 14.0% annual, Flat 0 Fees 0 Ins None 5.0% upfront 25.8% - 25.9% 27.8% - 27.9% 50

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Petty Traders Loan 60.00%-120.00% annual, Flat 2 Fees 0 None 25.00% upfront 147.3% - 245.4% 259.4% - 420.1% 16

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Group Loan 16.0%-24.0% annual, Flat 0 Fees 0 Ins Ins None 5.0%-10.0% upfront 28.3% - 30.2% 30.6% - 35.2% 47
Individual Loan 16.0%-20.0% annual, Flat 0 Fees 0 Ins Ins None 5.0%-10.0% upfront 29.4% - 30.9% 34.4% - 36% 45
Youth Loan Product 14.0% annual, Flat 0 Fees 0 Ins Ins None 5.0% upfront 25.8% - 25.9% 27.8% - 27.9% 50

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Petty Traders Loan 60.00%-120.00% annual, Flat 2 Fees 0 None 25.00% upfront 147.3% - 245.4% 259.4% - 420.1% 16
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