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Partner Description:

MDO "Humo" is a microfinance institution in Tajikistan that aims to support vulnerable and underserved populations living in rural areas through financial and consulting services for small businesses.

The organization provides micro-credit loans to groups and individuals to help fund start-up businesses, enhance asset turnover, finance agricultureal projects, and make processing and trade of agricultural products more affordable. Humo strives to makes sure all clients receive high-quality service, honesty, transparency and quick responses from staff no matter how large or small their businesses may be. New borrowers can typically access funds within three to seven days.

Currently, Humo has 20 branches and 41 sub-offices throughout Tajikistan, covering 25 regions, including many rural areas where no other viable financial services exist. As of December 2015, the organization served over 40,000 active clients with a total portfolio of US$30 million.

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Humo was founded in 2004 by NGO Care Tajikistan as a non-commercial social fund. It aimed to increase economic opportunities and the standard of living for the poor in socially unprotected sectors of the community.

Since 2007, the organization has worked closely with Kiva to ensure that funds are distributed to poor and low-income clients. Funds provided by Kiva lenders have already been disbursed to thousands of Humo clients and will continue to provide thousands more with permanent access to the financial services they need.

Microfinance services are especially important in Tajikistan, which lacks developed infrastructure and industries. The country’s economy has been supported largely by remittances sent by migrant Tajik workers who find employment in Russia. However, with the world economic crisis, these jobs are becoming harder and harder to find. Access to micro-credit is vital for more people to start and grow businesses and increase employment in their own communities.

Tajikistan became independent from the Soviet Union in 1991 and has been working to strengthen its economy since its civil war, which lasted from 1992 to 1997. The war, which claimed 50,000 lives, turned the remote mountain republic into the bloodiest corner of the former Soviet empire. As a result, the country remains the poorest in the region, with over two-thirds of the population living in poverty.

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Organization values

Humo lists its values as the following:

Meeting client expectations: Understanding the ongoing needs of clients and offering solutions to help develop and grow their enterprises.

Social responsibility: Understanding the responsibility to conduct activities in a socially-minded and financially viable way.

Transparency: To remain an open and transparent organization, always welcoming constructive feedback from clients, partners, government bodies and others.

Effectiveness and focus on results: Helping employees reach their maximum potential by offering both financial and non-financial incentives.

Corporate culture: Ensuring that employees and staff have a vested interest in the success of the organization and its clients.

Team spirit: Developing relationships between employees to create a positive and effective atmosphere.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jun 5, 2007 Oct 12, 2005
Total Loans $11,955,900 $994,392,850
Amount of raised Inactive loans $1,275 $260,175
Number of raised Inactive loans 2 305
Amount of Paying Back Loans $1,650,800 $154,159,625
Number of Paying Back Loans 2,749 196,300
Amount of Ended Loans $10,303,825 $839,973,050
Number of Ended Loans 11,413 1,055,657
Delinquency Rate 1.50% 8.64%
Amount in Arrears $17,278 $8,858,527
Outstanding Portfolio $1,151,657 $102,532,254
Number of Loans Delinquent 45 30,799
Default Rate 0.50% 1.42%
Amount of Ended Loans Defaulted $51,972 $11,907,245
Number of Ended Loans Defaulted 70 34,289
Currency Exchange Loss Rate 1.17% 0.45%
Amount of Currency Exchange Loss $139,310 $4,517,253
Refund Rate 0.96% 0.60%
Amount of Refunded Loans $114,250 $5,985,075
Number of Refunded Loans 96 6,003

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 61.41% 75.51%
Average Loan Size $846 $398
Average Individual Loan Size $846 $627
Average Group Loan Size $778 $1,756
Average number of borrowers per group 2.1 7.7
Average GDP per capita (PPP) in local country $2,700 $5,870
Average Loan Size / GDP per capita (PPP) 31.33% 6.78%
Average Time to Fund a Loan 13.32 days 6.92 days
Average Dollars Raised Per Day Per Loan $63.49 $57.53
  Average Loan Term 13.66 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 10,474 519,970
  Journaling Rate 50.00% 41.10%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.04 1.14

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 38% PY 35.00% PY 26.33% PY
  Profitability (return on assets) 1.46% 3.6% -1.08%
  Average Loan Size (% of per capita income) 72.10% 135.00% 16.31%

Country Fast Facts

Field Partner Staff

Fazilat Beknazarova
Mavzuna Boeva
Firdavs Mayunusov
Nargiza Rajabova
Nilufar Saidjonova
Fariza Umarova
Mavsuda Vaisova