| Outstanding portfolio (ZMK) | ZMK 1,114,727,511 |
| Portfolio (USD) | USD 215,406.28 |
| Active Clients with Loans | 110 |
| Approximate % Female Clients | 20% - 40% |
| Approximate % Urban Clients | 40% - 60% |
| Individual | |
| Solidarity group | x |
| Village banking | |
| Self help group | |
| Other |
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | Farmining business for throughout the year |
| Other (2) |
| Credit education | x |
| Group meetings | x |
| Credit insurance | x |
| Workplace visits | |
| Business training | |
| Other training | |
| Other | |
| Other (2) | |
| No other services |
| Men | x |
| Women | x |
| Must run a business | |
| Must own a home or land | |
| Must be a salaried worker | |
| Must be specific age group | |
| Other | Must have a farm holding and source of water throughout the year |
| Other (2) |
| # Regions for this institution | N/A |
| # Regions for this product | N/A |
| Regions Active |
| Currency | ZMK |
| Minimum loan size | ZMK 2,000,000 |
| Maximum loan size | 50,000,000 |
| Shortest loan term | 12.0 months |
| Longest loan term | 36.0 months |
| Approx average | 24.0 months |
| Grace period usage | 100% |
| Average grace period | 3.0 months |
| 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 | 25.00% |
| Highest quoted nominal interest | 25.00% |
| Interest rate period | Yearly |
| Interest Rate Calculation Method | Decl Bal |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
| Fee 1 | |
|---|---|
| Description | Processing fee |
| % of loan amount - min | 3.00% |
| % of loan amount - max | 3.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| Ins 1 | |
|---|---|
| Description | Credit Life Assurance |
| % of loan amount - min | 2.00% |
| % of loan amount - max | 2.00% |
| OR, Fixed amount - min | 0 |
| Fixed amount - max | 0 |
| Reason for variation | N/A |
| Appears on Repayment Sched? | No |
| 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 | ZMK 2,500,000 | ZMK 4,000,000 | ZMK 5,500,000 | ||
| Loan Cycle (1, 2, 3, etc) | Not Known | Not Known | Not Known | ||
| Disbursement Date | 2011-08-10 | 2011-08-10 | 2011-08-10 | ||
| Loan Term (Months) | 24.0 months | 24.0 months | 24.0 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 | 28.1% | 28.1% | 28.5% | ||
| Insurance Component | 2.3% | 2.3% | 2.3% | ||
| Tax Component | 0.0% | 0.0% | 0.0% | ||
| Deposit Component | 0.0% | 0.0% | 0.0% | ||
| Full APR (int fee ins tax dep) | 30.4% | 30.4% | 30.8% | ||
| Transparency Index | 82 | 82 | 81 | ||
| Original Repayment Schedule | |||||
| MFT Pricing Calculation |
| Institution Type | Private 'For-Profit' |
| Is this institution regulated? | Yes |
| Website address | http://www.microafricagroup.com/ |
| Year established | 2004 |
| Head of Institution | Anthony Nderitu |
| Regions active | 0 |
| # Branches | 4 |
| Total Portfolio (nat'l) | RWF 1,255,802,510 |
| Total Portfolio (USD) | USD 2,128,478.83 |
| Active clients with loans | 2,858 |
| Approximate % female clients | 40% - 60% |
| Approximate % urban clients | 40% - 60% |
| Network affiliations | Association of Microfinance Institutions in Rwanda |
| 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 - 500,000 | 3 - 12 | 40% - 60% | 40% - 60% | ||||||||||
| Salary Loan | RWF 100,000 - 5,000,000 | 3 - 15 | 40% - 60% | 80% - 100% | ||||||||||
| SME Loan | RWF 1,000,000 - 7,500,000 | 3 - 15 | 40% - 60% | 60% - 80% |
| Product Name | Annual Nominal Interest | Fees | Insurance | Taxes | Compulsory Deposit | APR (int+fee) | Full APR | Transparency Index | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group Loan | 30.00% annual, Flat | 1 Fee | 0 Ins | 58.4% - 61.4% | 92.1% - 99.6% | |||||||||||
| Salary Loan | 48.00%-60.00% annual, Decl Bal | 2 Fees | 1 Ins | N/A | 55% - 71.5% | 58.3% - 77.5% | ||||||||||
| SME Loan | 48.00%-60.00% annual, Decl Bal | 1 Fee | 1 Ins | 56% - 74.6% | 87.8% - 118.1% |
| 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 |
| Country | InstAbbrev | SampleCode | Loan Amount USD | Loan Term (Months) | SampClients | FullAPR | DateApproved |
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