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Partner Description:

African Clean Energy (ACE) is a family-owned social enterprise, which manufactures and sells innovative cookstoves in Lesotho, as well as exports them further abroad. The company designs highly efficient cookstoves that burn smokelessly and use about 50-70% less fuel than traditional cookstoves. The solar-charged cookstoves also feature a unique USB port for charging phones and running LED lamps.

ACE cookstoves are regarded as one of the highest quality cookstoves on the market, which reduce emissions enough to yield health benefits. The organization has also started a donation program to provide cookstoves to underage orphans in Lesotho who have lost both of their parents to HIV/AIDS.

A unique lending approach:

Kiva funding would allow ACE to expand its existing loan program for customers to purchase cookstoves. The company offers the loans to groups of 10+ individuals from suburban and rural communities. Each loan requires a down payment of 25%.

ACE would also like to offer longer loan terms starting in Lesotho and then expanding into the more rural areas of South Africa, where communities are generally lower income.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 20, 2015 Oct 12, 2005
Total Loans $300,400 $948,590,975
Amount of raised Inactive loans $0 $375,825
Number of raised Inactive loans 0 261
Amount of Paying Back Loans $279,050 $141,979,900
Number of Paying Back Loans 327 175,166
Amount of Ended Loans $21,350 $806,235,250
Number of Ended Loans 23 1,011,122
Delinquency Rate 26.24% 8.10%
Amount in Arrears $34,440 $7,468,353
Outstanding Portfolio $131,268 $92,214,717
Number of Loans Delinquent 163 18,720
Default Rate 0.00% 1.40%
Amount of Ended Loans Defaulted $0 $11,312,347
Number of Ended Loans Defaulted 0 32,567
Currency Exchange Loss Rate 0.20% 0.46%
Amount of Currency Exchange Loss $606 $4,326,176
Refund Rate 0.00% 0.62%
Amount of Refunded Loans $0 $5,911,700
Number of Refunded Loans 0 5,950

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 81.03% 75.25%
Average Loan Size $95 $400
Average Individual Loan Size $0 $632
Average Group Loan Size $858 $1,765
Average number of borrowers per group 9 7.7
Average GDP per capita (PPP) in local country $2,200 $5,889
Average Loan Size / GDP per capita (PPP) 4.33% 6.79%
Average Time to Fund a Loan 0.35 days 6.92 days
Average Dollars Raised Per Day Per Loan $273.07 $57.76
  Average Loan Term 10.14 months 11.11 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 777 494,507
  Journaling Rate 92.19% 41.49%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.18

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 0% APR N/A 26.05% PY
  Profitability (return on assets) 8.5% N/A -0.82%
  Average Loan Size (% of per capita income) N/A N/A 17.16%

Country Fast Facts

Field Partner Staff

Thijs Faber
Nthabiseng Maputsoe
Alice Troostwijk
Judith Walker
Ruben Walker