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Institution
Data approved: 2013-05-23
Data version: 2
Age of data: - months
Key Statistics
| Outstanding portfolio (MZN) | MZN 28,654,350.65 |
| Portfolio (USD) | USD 942,577.32 |
| Active Clients with Loans | 4,212 |
| Approximate % Female Clients | 60% - 80% |
| Approximate % Urban Clients | 60% - 80% |
Methodology
| Individual | |
| Solidarity group | |
| Village banking | x |
| Self help group | |
| Other | |
Description
Isento de garantias fisicas; Benefecia micro-negociantes; Numero de membros igual ou superior a 10; A responsabilidade e solidaria tanto na seleio de clientes, como nos reembolsos
Loan Purpose
| Any purpose | |
| Income generation | x |
| Mortgage/housing | |
| Consumer loan | |
| Agriculture | |
| Education | |
| Other household finance | |
| Other | |
| Other (2) | |
Included Services
| Credit education | x |
| Group meetings | x |
| Credit insurance | |
| Workplace visits | x |
| Business training | x |
| Other training | |
| Other | |
| Other (2) | |
| No other services | |
Eligibility
| 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 | |
| Other (2) | |
Portfolio Size by Product
Geographic Coverage
| # Regions for this institution | 4 |
| # Regions for this product | N/A |
| Regions Active | |
Loan Conditions
Loan Amount
| Currency | MZN |
| Minimum loan size | MZN 3,000 |
| Maximum loan size | 30,000 |
Distribution at Disbursement (Est.)
| Loans less than MZN 5,000 | 30% |
| MZN 5,000-10,000 | 30% |
| MZN 10,000-20,000 | 30% |
| MZN 20,000-40,000 | 10% |
| MZN 40,000-60,000 | 0 |
| Greater than MZN 60,000 | 0 |
Loan Term and Grace Period
| Shortest loan term | 4.0 months |
| Longest loan term | 6.0 months |
| Approx average | 4.0 months |
Distribution at Disbursement (Est.)
| Loans 3 months or less | 0 |
| Between 4 and 6 months | 100% |
| Between 7 and 9 months | 0 |
| Between 10 and 12 months | 0 |
| Between 13 and 18 months | 0 |
| Longer than 18 months | 0 |
Grace Period
| Grace period usage | 0 |
| Average grace period | 0 |
Repayment Frequency
| Daily | |
| Weekly | |
| Every 2 weeks | |
| Every 4 weeks | x |
| Monthly | |
| Every 2 months | |
| Quarterly | |
| Every 6 months | |
| Every 12 months | |
| Single end payment | |
| Irregular payments | |
Pricing Information
Interest
| Lowest quoted nominal interest | 4.00% |
| Highest quoted nominal interest | 4.00% |
| Interest rate period | 4 Weeks |
| Interest Rate Calculation Method | Flat |
| Subsidized by funder request? | No |
| Is rate fixed for entire loan term | Yes |
Upfront Fees
This product has no upfront feesOngoing Fees
This product has no ongoing feesUpfront Insurance Fees
This product has no upfront insurance feesOngoing Insurance Fees
This product has no ongoing insurance fees
Compulsory Deposit
| Required for | Some |
| Criteria | N/A |
| Is deposit indicated on the repayment schedule? | Yes |
| Do borrowers control deposit in their group? | Yes |
Deposit BEFORE or AT Disbursement
| % loan amount deposited | 10.00% - 20.00% |
| or, Fixed-amount deposited | 0 |
Deposits DURING period payments
| % loan amount deposited | 0 |
| or, Fixed-amount deposited | 0 |
| Conditions on access to deposit | End Term |
Interest Paid on Deposit
| Minimum interest rate paid | 0 |
| Maximum interest rate paid | 0 |
| Interest payment frequency | N/A |
Taxes
| Are taxes charged on this product? | No |
Additional Comments
A AfricaWorks não tem nenhum financiador/Investidor. O valor mínimo das garantias (Poupanças obrigatórias) estipulado para depósito durante o período de reembolso, corresponde a 3%, sem percentágem máxima. Os clientes depositam garantias de acordo com a sua capacidade financeira bem como o valor que prevêm receber no ciclo precedente. Os valores acima são estimados.
Full Pricing Data
Grupo Comunitario samples
| Sample 1 | | Sample 2 | | Sample 3 | | Sample 4 |
|---|
| Loan Amount | MZN 3,000 | | MZN 7,000 | | MZN 15,000 | | MZN 30,000 |
| Loan Cycle (1, 2, 3, etc) | Not Known | | Not Known | | Not Known | | Not Known |
| Disbursement Date | 2013-04-16 | | 2013-04-10 | | 2013-04-16 | | 2013-03-20 |
| Loan Term (Months) | 3.8 months | | 3.7 months | | 3.8 months | | 3.8 months |
| Grace Period (Months) | 0.0 months | | -0.1 months | | 0.0 months | | 0.0 months |
| Total Cost of Credit | MZN 480 | | MZN 1,120 | | MZN 2,400 | | MZN 4,800 |
| True Price by Comp | | | | | | | |
| Interest price component | 77.5% | | 78.7% | | 77.5% | | 77.5% |
| Fee Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Insurance Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Tax Component | 0.0% | | 0.0% | | 0.0% | | 0.0% |
| Deposit Component | 0.0% | | 13.4% | | 21.5% | | 31.5% |
| Full APR (int fee ins tax dep) | 77.5% | | 92.1% | | 99.0% | | 109.0% |
| Transparency Index | 67 | | 56 | | 53 | | 48 |
| | | | | | | | |
| Original Repayment Schedule | PDF | | PDF | | PDF | | PDF |
| MFT Pricing Calculation | PDF | | PDF | | PDF | | PDF |
Grupo Comunitario Price Graphs
