Institution Type | Private 'For-Profit' |
Is this institution regulated? | Yes |
Website address | N/A |
Year established | 1997 |
Head of Institution | Mr James Acquaye |
Regions active | 0 |
# Branches | 0 |
Total Portfolio (nat'l) | GHS 2,100,364 |
Total Portfolio (USD) | USD 1,400,242.67 |
Active clients with loans | 2,394 |
Approximate % female clients | 60% - 80% |
Approximate % urban clients | 0% - 20% |
Network affiliations | UNDP, TRIAS GHANA, SPEED GHANA, OXFARM |
Funders | TRAIS, UNDP, SPEED, NORTHFIN |
Product Name | Loan Size Range | Loan Term (months) | % Female | % Urban | Loan Purpose | Eligibility | Other Services | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | GHS 500 - 2,000 | 6 - 12 | 20% - 40% | 0% - 20% | ||||||||||
Credit With Education (CWE) Loan | GHS 500 - 4,000 | 12 - 24 | 60% - 80% | 0% - 20% | ||||||||||
Farming Loan | GHS 200 - 2,000 | 12 - 18 | 20% - 40% | 0% - 20% | ||||||||||
Salary Loan | GHS 500 - 10,000 | 12 - 36 | 40% - 60% | 0% - 20% |
Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Business Loan | 36.00%-0.00% annual, Flat | 1 Fee | 0 Ins | 62.8% - 63.4% | 98.5% - 106.1% | 35 | ||||||||||
Credit With Education (CWE) Loan | 20.00%-0.00% annual, Flat | 0 Fees | 0 Ins | 74.2% - 76.6% | 95.6% - 106.3% | 20 | ||||||||||
Farming Loan | 30.00%-0.00% annual, Flat | 0 Fees | 0 Ins | 61.1% | 107.2% | 27 | ||||||||||
Salary Loan | 30.00%-0.00% annual, Decl Bal | 2 Fees | 0 Ins | N/A | 29.2% - 63.9% | 29.2% - 63.9% | 73 |
Outstanding portfolio (TZS) | TZS 1,000,000,000 |
Portfolio (USD) | USD 628,930.82 |
Active Clients with Loans | 500 |
Approximate % Female Clients | 80% - 100% |
Approximate % Urban Clients | 40% - 60% |
Individual | x |
Solidarity group | |
Village banking | |
Self help group | |
Other |
Any purpose | |
Income generation | x |
Mortgage/housing | |
Consumer loan | |
Agriculture | |
Education | |
Other household finance | |
Other | |
Other (2) |
Credit education | |
Group meetings | |
Credit insurance | |
Workplace visits | |
Business training | x |
Other training | |
Other | |
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 | |
Other | |
Other (2) |
# Regions for this institution | N/A |
# Regions for this product | N/A |
Regions Active |
Currency | TZS |
Minimum loan size | TZS 150,000 |
Maximum loan size | 4,000,000 |
Shortest loan term | 6.0 months |
Longest loan term | 18.0 months |
Approx average | 12.0 months |
Grace period usage | 0 |
Average grace period | 0 |
Daily | |
Weekly | |
Every 2 weeks | |
Every 4 weeks | |
Monthly | x |
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 | 2.80% |
Reason(s) why interest rate varies | Client Risk |
Interest rate period | Monthly |
Interest Rate Calculation Method | Flat |
Subsidized by funder request? | |
Is rate fixed for entire loan term | Yes |
Fee 1 | |
---|---|
Description | Application Fee |
% of loan amount - min | 0 |
% of loan amount - max | 3.00% |
OR, Fixed amount - min | 15,000 |
Fixed amount - max | 0 |
Reason for variation | Loans above TZS 400,000 are charged 3% of the loan amount |
Appears on Repayment Sched? | No |
Required for | All |
Criteria | N/A |
Is deposit indicated on the repayment schedule? | |
Do borrowers control deposit in their group? |
% loan amount deposited | 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 | 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 | Sample 5 | Sample 6 | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Loan Amount | TZS 250,000 | TZS 500,000 | TZS 900,000 | TZS 2,000,000 | TZS 3,000,000 | TZS 4,250,000 | |||||
Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
Disbursement Date | 2009-09-23 | 2010-11-25 | 2009-08-15 | 2010-12-07 | 2009-03-25 | 2009-11-17 | |||||
Loan Term (Months) | 6.0 months | 12.0 months | 12.0 months | 12.0 months | 12.0 months | 12.0 months | |||||
Grace Period (Months) | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | 0.0 months | |||||
Total Cost of Credit | Not Known | Not Known | Not Known | Not Known | Not Known | Not Known | |||||
True Price by Comp | |||||||||||
Interest and Fee Component | 75.9% | 64.6% | 63.9% | 64.1% | 63.6% | 64.5% | |||||
Insurance Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Tax Component | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |||||
Deposit Component | 51.3% | 40.8% | 40.0% | 40.2% | 39.7% | 40.7% | |||||
Full APR (int fee ins tax dep) | 127.1% | 105.4% | 103.9% | 104.3% | 103.3% | 105.2% | |||||
Transparency Index | 24 | 28 | 29 | 29 | 29 | 29 | |||||
Original Repayment Schedule | |||||||||||
MFT Pricing Calculation |
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% Products with one or more insurances | |
% Products with compulsory deposits |
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