Status Update: March 14, 2009

Kiva’s partnership with People Microcredit Investment Bureau (PEMCI) has been CLOSED. PEMCI, is based in Malaba, Northern Kenya, very close to the Ugandan border. As you may know, this region was severely affected by the riots and civil unrest that took place in Kenya in early 2008. A majority of PEMCI's entrepreneurs were adversely affected by this event, and this has resulted in a high number of defaulted loans.

PEMCI has made every effort to work with their clients to fully understand their unique situations and how it has affected their businesses and their ability to repay their loans. However, PEMCI has decided to default Kiva loans where (i) their clients have been unable to be located, (ii) clients' businesses have been destroyed, and (iii) clients may have otherwise suffered such extreme losses that their debt is causing them unusual difficulties. In certain cases, PEMCI is attempting to recover funds from borrowers, but the outcome of such collection activity is highly uncertain. While further collections are highly unlikely, if Kiva is able to collect further funds they will be distributed to affected lenders in accordance with the amounts loaned by such affected lenders to the defaulted PEMCI borrowers.

Original description posted by PEMCI:

Our Vision:

To become a financially viable and sustainable organization, delivering a wide range of financial and non-financial services that contribute to a better and equitable world for ALL.

Our work:

To build wealth and assets, encourage self-employment, increase incomes and restore market forces to benefit individuals and communities through affordable and sustainable microloans and related financial services. This would be achieved through: innovative ideas; diversified financial products; programs and services to individuals and communities especially low income entrepreneurs in the informal sector; networking with other development partners; teamwork and mobilization of resources and support nationally and worldwide.

PEMCI can be contacted directly at

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 14, 2006 Oct 12, 2005
Total Loans $111,550 $948,590,975
Amount of raised Inactive loans $0 $375,825
Number of raised Inactive loans 0 261
Amount of Paying Back Loans $0 $141,979,900
Number of Paying Back Loans 0 175,166
Amount of Ended Loans $111,550 $806,235,250
Number of Ended Loans 342 1,011,122
Delinquency Rate 0.00% 8.10%
Amount in Arrears $0 $7,468,353
Outstanding Portfolio $0 $92,214,717
Number of Loans Delinquent 0 18,720
Default Rate 19.74% 1.40%
Amount of Ended Loans Defaulted $22,022 $11,312,347
Number of Ended Loans Defaulted 148 32,567
Currency Exchange Loss Rate 0.00% 0.46%
Amount of Currency Exchange Loss $0 $4,326,176
Refund Rate 2.29% 0.62%
Amount of Refunded Loans $2,550 $5,911,700
Number of Refunded Loans 3 5,950

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 48.12% 75.25%
Average Loan Size $331 $400
Average Individual Loan Size $331 $632
Average Group Loan Size $0 $1,765
Average number of borrowers per group 0 7.7
Average GDP per capita (PPP) in local country $1,800 $5,889
Average Loan Size / GDP per capita (PPP) 18.37% 6.79%
Average Time to Fund a Loan 0.26 days 6.92 days
Average Dollars Raised Per Day Per Loan $1,268.50 $57.76
  Average Loan Term 7.58 months 11.11 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 91 494,507
  Journaling Rate 23.68% 41.49%
  Average Number of Comments Per Journal 0.58 0.05
  Average Number of Recommendations Per Journal 3.58 1.18

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 36.00% PY 26.05% PY
  Profitability (return on assets) N/A 0.5% -0.82%
  Average Loan Size (% of per capita income) N/A 56.00% 17.16%

Country Fast Facts

Field Partner Staff

Margaret Karuri
Michael Mucheru
William Mwago