Juhudi Kilimo
Kenya
September 11, 2011
During this re-assessment, our analysts were able to gather updated operational and financial information about the institution, as well as speak with key members of the staff.
The information gathered during this process, together with the Kiva's new risk rating system and half-star support, has led us to revise Juhudi Kilimo's risk rating from 1 to 3 stars. The analysts have found that Juhudi Kilimo's risk variables, reviewed in the new risk rating model, were most representative of a 3-Star rating.
We have prepared a blog post with more information on Kiva's new and enhanced risk rating system, along with a chart showing the relative magnitude of the overall changes for Kiva's portfolio. To view that, please go here: http://www.kiva.org/updates/kiva/2011/09/07/kiva-risk-ratings-now-with-half-stars.html.
Juhudi Kilimo has been informed of our analysts’ findings and their corresponding change in rating.
Update: April 7, 2011
When Juhudi Kilimo first joined the Kiva platform nine months ago, they did not meet all of Kiva’s minimum requirements for partnership. The organization failed to meet Kiva’s minimum criteria as a result of its short history as an independent entity as well as the absence of audited financial statements as an independent entity. Since then, we have received Juhudi’s unqualified 2009 audited financial statements and they now meet the rest of Kiva’s minimum criteria.
Juhudi Kilimo’s 100% owner, K-Rep Group, continues to guarantee Kiva funds in the event of institutional default. Lenders should be aware that the risk of borrower default remains borne by the lender. Furthermore, Juhudi Kilimo, along with many other Kiva partners, has opted not to cover losses on the loan that are due to currency fluctuation. In this situation, lenders face additional risk because they will bear losses greater than 20%.
Please note that this Partner does not meet all of Kiva’s minimum requirements for partnership. Juhudi Kilimo was established as an independent organization in March 2009 and was previously a project of K-Rep Development Agency (begun in 2003). The organization fails to meet Kiva’s minimum criteria as a result of its short history as an independent entity as well as the absence of audited financial statements as an independent entity.
To facilitate a partnership between Kiva and Juhudi Kilimo, K-Rep Group (Juhudi Kilimo’s 100% owner) has guaranteed Kiva funds in the event of institutional default. Lenders should be aware that the risk of borrower default remains borne by the lender. Furthermore, Juhudi Kilimo, along with many other Kiva partners, has chosen to activate our Currency Exchange Loss feature. On loans where you see that Currency Exchange Loss is set to “Possible,” lenders may lose funds as a result of a currency devaluation of more than 20% of the Kenyan shilling against the US dollar.
About Juhudi Kilimo
Juhudi Kilimo Company Limited is a newly established for-profit enterprise that addresses rural economic development in Kenya by providing innovative, agriculture-based, micro-asset financing loans. These specialized loans assist the smallholder farmers in acquiring productive assets such as dairy cows, chickens and irrigation equipment. Juhudi’s product lines bring added value to agriculture, the largest economic field in rural Kenya, by financing assets that offer long-term gains in productivity and provide sustainable wealth creation.
Spun off in April 2009, Juhudi first established a five-year track record of success as an asset financing program within the K-Rep Development Agency (KDA), an antipoverty NGO that performs research and product development for the microfinance sector. Today Juhudi provides financial services to over 7,000 smallholder farmers, approximately half of whom are women. The company’s mission is to provide market-driven, wealth-creating financial services for rural smallholder farmers and enterprises while achieving a positive social impact.
Learn more about Juhudi Kilimo at www.juhudikilimo.com and through the Juhudi Kilimo Facebook page.
Repayment Performance on Kiva
Repayment Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Start Date On Kiva | Jan 15, 2010 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $2,178,275 | $425,884,350 | |
| Amount of Raised Inactive Loans | $0 | $237,075 | |
| Number Of Raised Inactive Loans | 0 | 230 | |
| Amount of Paying Back Loans | $796,250 | $93,843,525 | |
| Number Of Paying Back Loans | 1,382 | 101,372 | |
| Amount of Ended Loans | $1,382,025 | $331,803,750 | |
| Number Of Ended Loans | 2,452 | 435,035 | |
| Delinquency Rate | 4.41% | 2.02% | |
| Amount In Arrears | $19,887 | $1,216,011 | |
| Outstanding Portfolio | $450,669 | $60,072,158 | |
| Number of Loans Delinquent | 313 | 9,818 | |
| Default Rate | 2.57% | 0.97% | |
| Amount of Ended Loans Defaulted | $35,556 | $3,220,059 | |
| Amount of Ended Loans | $1,382,025 | $331,803,750 | |
| Number Of Ended Loans Defaulted | 233 | 9,823 | |
| Currency Exchange Loss Rate | 0.06% | 0.02% | |
| Amount of Currency Exchange Loss | $1,245 | $77,435 | |
| Refund Rate | 0.13% | 0.96% | |
| Amount of Refunded Loans | $2,825 | $4,068,925 | |
| Number Of Refunded Loans | 4 | 4,589 |
Loan Characteristics On Kiva
Loan Characteristics On Kiva| This Field Partner | All Kiva Partners | ||
| Loans To Women Entrepreneurs | 48.24% | 74.03% | |
|---|---|---|---|
| Average Loan Size | $568 | $407 | |
| Average Individual Loan Size | $568 | $646 | |
| Average Group Loan Size | $0 | $1,743 | |
| Average Number Of Entrepreneurs Per Group | 0 | 8 | |
| Average GDP Per Capita (PPP) in Local Country | $1,445 | $3,347 | |
| Average Loan Size / GDP Per Capita (PPP) | 39.33% | 12.16% | |
| Average Time To Fund A Loan | 3.44 days | 4.69 days | |
| Average Dollars Raised Per Day Per Loan | $165.08 | $86.82 | |
| Average Loan Term | 13.8 months | 9.61 months |
Journaling Performance on Kiva
Journaling Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Total Journals | 55 | 203,258 | |
|---|---|---|---|
| Journaling Rate | 1.88% | 39.93% | |
| Average Number Of Comments Per Journal | 0.11 | 0.11 | |
| Average Number Of Recommendations Per Journal | 0.51 | 2.73 |
Borrowing Cost Comparison (based on 2011 data)
Borrowing Cost Comparison (based on 2011 data)| This Field Partner | Median for MFI Peers in Country | All Kiva Partners | ||
| Portfolio Yield | 29.70% | 32.90% | 35.02% | |
|---|---|---|---|---|
| Profitability (Return on Assets) | -8% | 0.2% | -0.38% | |
| Average Loan Size (% of Per Capita Income) | 49.60% | 51.50% | 46.53% |
Country Fast Facts
Country Fast Facts- Country:
- Kenya
- Capital:
- Nairobi
- Official Language:
- English (official), Kiswahili (official), numerous indigenous languages
- Population:
- 32,021,856
- Avg Annual Income:
- $1,445
- Labor Force:
- agriculture 75%
- Population Below Poverty Line:
- 50%
- Literacy Rate:
- 85.10%
- Infant Mortality Rate (per 1000):
- 62.62 deaths
- Life Expectancy:
- 44.94 years
Field Partner Staff
Tarin AyresAmy Barth
Rachel Brooks
Jeremy Gordon
Daniel Juma
Benjamin Kimosop
Festus Kimuyu
Job Kirui
Helen Maiyo
Linet Moraa
Njambi Mungai
Steve Mutai
Princess Mutio
Emma Odhiambo
Christine Odongo
Albert Onchiri
Nat Robinson
Jada Tullos-Anderson