Update from Kiva - September 2, 2009

Kiva commenced partnership with Kraban Support Foundation in the fourth quarter of 2006. The partnership was closed in mid-2007 after Kiva discovered irregularities in the application of its policies by Kraban Support Foundation. Over the course of the partnership, Kraban Support Foundation raised approximately $500,000 in loans. All loans were marked as repaid from the entrepreneurs and Kiva repaid lenders to Kraban entrepreneurs.
Subsequently, Kraban did not send all the funds to Kiva, and a repayment plan between Kraban Support Foundation and Kiva was agreed upon. The repayment plan spanned from September 2007 to March 2009, through monthly installments.
Since November 2008, Kraban Support Foundation has been delinquent in its payments to Kiva in an amount close to $100,000. Kiva continues to pursue legal remedies with regard to collection of funds owed from Kraban Support Foundation.

Original description

Kraban Support Foundation (KSF) is a local development-oriented NGO with the aim of eradicating rural poverty through community education. The organization deeply shares a philosophy of commitment to help fight poverty by facilitating improved quality of human life in the communities in which they operate in Ghana.

Their mission is to develop innovative strategies and programs that enhance the capacity and productivity of vulnerable groups in their target deprived communities. Kraban Support Foundation\'s ultimate aim is to operate to enhance the access of small-scale entrepreneurs to sustainable financial services. The organization accomplishes this through strong and viable Cooperative Savings and Credit Societies (CSCS). The NGO facilitates savings-deposits and offers small-scale loans in addition to business development services in a cost effective and sustainable manner.

To provide lending, Kraban retails credit to clients in a linkage banking arrangement. However, the responsibility for loan appraisal and approval, entering into loan agreements, disbursement and loan recovery solely rest with their organization. Kraban sensitizes community-based groups through its Training, Education and Credit for Health (TEACH) methodology.

 


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Nov 7, 2006 Oct 12, 2005
Total Loans $502,200 $573,010,825
Amount of raised Inactive loans $0 $311,275
Number of raised Inactive loans 0 306
Amount of Paying Back Loans $0 $117,333,875
Number of Paying Back Loans 0 122,956
Amount of Ended Loans $502,200 $455,365,675
Number of Ended Loans 598 580,312
Delinquency Rate 0.00% 3.62%
Amount in Arrears $0 $2,773,489
Outstanding Portfolio $0 $76,542,883
Number of loanDelinquent 0 11,589
Default Rate 0.00% 1.08%
Amount of Ended Loans Defaulted $0 $4,927,943
Amount of Ended Loans $502,200 $455,365,675
Number of Ended Loans Defaulted 0 15,212
Currency Exchange Loss Rate 0.00% 0.07%
Amount of Currency Exchange Loss $0 $406,266
Refund Rate 0.38% 0.78%
Amount of Refunded Loans $1,925 $4,479,350
Number of Refunded Loans 2 5,008

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 95.17% 74.23%
Average Loan Size $840 $418
Average Individual Loan Size $840 $656
Average Group Loan Size $0 $1,823
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $2,643 $3,442
Average Loan Size / GDP per capita (PPP) 31.79% 12.16%
Average Time to Fund a Loan 1.07 days 5.5 days
Average Dollars Raised Per Day Per Loan $787.24 $76.14
  Average Loan Term 9.13 months 10.24 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 187 286,081
  Journaling Rate 28.60% 42.44%
  Average Number of Comments Per Journal 1.75 0.08
  Average Number of Recommendations Per Journal 4.05 1.94

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Portfolio Yield N/A 53.00% 33.65%
  Profitability (return on assets) N/A 0.3% -1.29%
  Average Loan Size (% of per capita income) N/A 13.00% 41.84%

Country Fast Facts

Field Partner Staff

Jones Adzroe
Millicent Asantewa Donkor
Juliet Osei Asiedu
Daniel Chester Enyan
Mariam Kwarteng
Elizabeth Mahu
Nana Opare-Djan
Charles Patrick Taadi
Kwabena Yeboah-Asuama Jnr