2. BestFUND
Please note that the information you are viewing is 132 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE
  2. FINCOOP
Please note that the information you are viewing is 136 months old and may not represent the prices currently charged. If you represent this MFI and wish to update your information, click HERE

Institution

BestFUND Head OfficeCantomentsAccra, Greater AccraP.O. Box CT 5217
Data approved: 2013-03-04
Data version: 2
Age of data: 132 months
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Institution

Finance Cooperative Limited ADL House, 3rd FloorCity CenterLilongwe, Central
Data approved: 2011-01-31
Data version: 1
Age of data: -   months 
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Institution Details

Institution TypeNon-Governmental Organization
Is this institution regulated?No
Website addresshttp://www.bestfundghana.org
Year established2005
Head of InstitutionDr. Emmanuel Shaft Boamah
Regions activeGreater Accra Region, Ashanti Region
# Branches3

Total Portfolio (nat'l)GHS 8,220,420
Total Portfolio (USD)USD 4,172,802.03
Active clients with loans13,064
Approximate % female clients60% - 80%
Approximate % urban clients0% - 20%
Network affiliationsGHAMFIN, ASSFIN, AMT
Funders

Institution Details

Institution TypeCooperative
Is this institution regulated?N/A
Website addressN/A
Year established2004
Head of InstitutionAnthony Mtali Ngwira
Regions active0
# Branches4

Total Portfolio (nat'l)MWK 615,884,079
Total Portfolio (USD)USD 4,105,893.86
Active clients with loans33,228
Approximate % female clients80% - 100%
Approximate % urban clients60% - 80%
Network affiliationsMalawi Union of Savings and Credit Cooperations (MUSCCO), Malawi Microfinance Network (MAMN)
FundersHIVOS, CORDAID

Loan Products » Summary

Capacity
1,211 Borrowers
USD 1,071,131.98 Portfolio
Active Product
Group Loan
9,642 Borrowers
USD 2,535,665.48 Portfolio
Active Product
Individual
2,211 Borrowers
USD 566,004.57 Portfolio
Active Product

Loan Products » Summary

Mpamba (Individual Business Loan)
9,968 Borrowers
USD 1,453,333 Portfolio
Active Product
Mwai wa Mayi (Female Group Loan)
5,989 Borrowers
USD 328,472 Portfolio
Active Product
Phindu (Group Business)
4,984 Borrowers
USD 615,884 Portfolio
Active Product
Pompopompo (Emergency Loan)
665 Borrowers
USD 82,118 Portfolio
Active Product
Uchikumbe (Agriculture Loan)
21,598 Borrowers
USD 2,668,838 Portfolio
Active Product

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Capacity Loan GHS 3,000 - 8,000 6 - 10 60% - 80% 0% - 20% Business, Education Women, Men, Have business, Salaried worker Credit Ins, Tech Asst Visits
Group Loan GHS 2,000 - 10,000 5 - 8 80% - 100% 0% - 20% Business, Education, Land Women, Men, Have business, Salaried worker Group Mtgs, Tech Asst Visits
Individual Loan GHS 500 - 1,000 4 - 6 60% - 80% 0% - 20% Business Women, Men, Have business Credit Ins

Loan Products » Conditions

Product Name Loan Size Range Loan Term (months) % Female % Urban Loan Purpose Eligibility Other Services
Mpamba (Individual Business Loan) MWK 10,000 - 1,500,000 2 - 12 40% - 60% 20% - 40%
Mwai wa Mayi (Female Group Loan) MWK 10,000 - 100,000 2 - 8 80% - 100% 20% - 40%
Phindu (Group Business) MWK 10,000 - 250,000 3 - 12 20% - 40% 20% - 40%
Pompopompo (Emergency Loan) MWK 1,120 - 30,000 2 - 5 20% - 40% 60% - 80%
Uchikumbe (Agriculture Loan) MWK 7,500 - 200,000 4 - 10 20% - 40% 0% - 20%

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Capacity Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins None 10.0% upfront 64.5% - 68% 74.9% - 78.8% 47
Group Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins None 10.0% upfront 59% - 70.2% 68.1% - 81.6% N/A
Individual Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins None 10.0% upfront 62.3% - 69.1% 72.1% - 80.2% 47

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Mpamba (Individual Business Loan) 32.00% annual, Flat 1 Fee 0 Ins N/A 0% - 66.6% 66.8% - 77%
Mwai wa Mayi (Female Group Loan) 36.00% annual, Flat 1 Fee 0 Ins N/A 63.9% - 65.7% 71.8% - 73.8%
Phindu (Group Business) 30.00% annual, Flat 2 Fees 0 Ins N/A 0% - 65.4% 67.1% - 75.8%
Pompopompo (Emergency Loan) 36.00% annual, Flat 1 Fee 0 Ins N/A 72.1% - 75.6% 85.6% - 89.8%
Uchikumbe (Agriculture Loan) 32.00% annual, Flat 2 Fees 0 Ins N/A 62.4% - 62.8% 68.4% - 69.4%

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Capacity Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins Ins None 10.0% upfront 64.5% - 68% 74.9% - 78.8% 47
Group Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins Ins None 10.0% upfront 59% - 70.2% 68.1% - 81.6% N/A
Individual Loan 36.0%-96.0% annual, Flat 1 Fee 0 Ins Ins None 10.0% upfront 62.3% - 69.1% 72.1% - 80.2% 47

Loan Products » Pricing Information

Product Name Annual Nominal Interest Fees Insurance Taxes Compulsory Deposit APR (int+fee) Full APR Transparency Index
Mpamba (Individual Business Loan) 32.00% annual, Flat 1 Fee 0 Ins Ins N/A 0% - 66.6% 66.8% - 77%
Mwai wa Mayi (Female Group Loan) 36.00% annual, Flat 1 Fee 0 Ins Ins N/A 63.9% - 65.7% 71.8% - 73.8%
Phindu (Group Business) 30.00% annual, Flat 2 Fees 0 Ins Ins N/A 0% - 65.4% 67.1% - 75.8%
Pompopompo (Emergency Loan) 36.00% annual, Flat 1 Fee 0 Ins Ins N/A 72.1% - 75.6% 85.6% - 89.8%
Uchikumbe (Agriculture Loan) 32.00% annual, Flat 2 Fees 0 Ins Ins N/A 62.4% - 62.8% 68.4% - 69.4%
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