July 15, 2014

Milango is not currently raising funds on the Kiva platform. They have a total outstanding balance $204,160 owed to Kiva. Kiva and Milango have reached a restructure agreement with a new repayment plan. Milango will pay Kiva $12K per month until their balance is cleared. Milango continues to remit monthly payments on time to Kiva.

Milango Financial Services is a private limited company by shares registered in Kenya in the year 2009. Their head office is located in Mombasa town on Moi Avenue at Rozina house next to the famous Mombasa elephant tusks opposite Uhuru Gardens. The organization is currently serving 4 Counties of the larger coast region which has 6 Counties. Their desire is to have a presence in all of the counties and Extend operations in the neighboring lower Eastern Counties by year 2012.

Milango is particularly focused on women and the youth, as both categories are largely excluded in the mainstream financial markets and the form a large portion of the base of the pyramid. The organization sees itself as agents to spur acceleration of including these two demographics to the banked statistics and not just statistically but much more with tangible transformation both to their lives and their communities.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Sep 28, 2011 Oct 12, 2005
Total Loans $1,378,325 $626,441,200
Amount of raised Inactive loans $0 $441,000
Number of raised Inactive loans 0 374
Amount of Paying Back Loans $400,775 $121,478,150
Number of Paying Back Loans 774 133,549
Amount of Ended Loans $977,550 $504,522,050
Number of Ended Loans 2,146 634,907
Delinquency Rate 82.40% 4.60%
Amount in Arrears $146,977 $3,613,802
Outstanding Portfolio $178,360 $78,532,024
Number of loanDelinquent 765 17,015
Default Rate 3.81% 1.11%
Amount of Ended Loans Defaulted $37,218 $5,607,054
Amount of Ended Loans $977,550 $504,522,050
Number of Ended Loans Defaulted 218 17,324
Currency Exchange Loss Rate 0.00% 0.11%
Amount of Currency Exchange Loss $0 $679,982
Refund Rate 0.19% 0.73%
Amount of Refunded Loans $2,650 $4,592,300
Number of Refunded Loans 5 5,127

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 55.60% 74.18%
Average Loan Size $472 $418
Average Individual Loan Size $472 $654
Average Group Loan Size $0 $1,837
Average number of borrowers per group 0 8
Average GDP per capita (PPP) in local country $1,800 $3,409
Average Loan Size / GDP per capita (PPP) 26.23% 12.27%
Average Time to Fund a Loan 7.05 days 5.81 days
Average Dollars Raised Per Day Per Loan $66.97 $72.03
  Average Loan Term 9.19 months 10.52 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 1,260 313,958
  Journaling Rate 37.08% 42.15%
  Average Number of Comments Per Journal 0.00 0.07
  Average Number of Recommendations Per Journal 0.00 1.76

Borrowing Cost Comparison (based on 2011 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 41% PY 36.00% PY 33.35% PY
  Profitability (return on assets) 1.6% 0.5% -1.49%
  Average Loan Size (% of per capita income) 27.92% 56.00% 38.01%

Country Fast Facts

Field Partner Staff

Kennedy Kirui
Johnson Kithendu
Miriam Mauta
Esther Moyi
Boniface Muthusi
Charles Mwango
Moses Wafula