AgDevCo
Mozambique
Last updated October 17, 2012
Partner Description:
Africa Agricultural Development Company (AgDevCo) is a nonprofit venture capital organization devoted to creating successful agribusinesses in low-income countries. By investing in agribusinesses, AgDevCo enables them to grow large enough to attract other private investments from domestic and overseas organizations.
By taking a hands-on development role – including identifying projects, responsibly securing access to land, organizing smallholder farmers and linking them to markets – AgDevCo removes many of the front-end development costs and risks that deter private investment in African agriculture. After identifying promising agriculture projects, AgDevCo then provides technical assistance and raises third-party capital from Development Finance Institutions (DFIs) and private investors to finance both small- and large-scale development costs.
Agriculture is one of Africa’s best routes for boosting economic growth and reducing poverty, as large areas of the continent have a suitable climate, abundant land and access to major water resources. Mozambique is considered one of the countries in sub-Saharan Africa that has tremendous agricultural potential.
A unique lending approach
Through one of its main projects, AgDevCo aims to provide finance and extension services to identify, educate and ultimately help leading agricultural students graduate to commercially sustainable farmers. The organization is currently using a business-driven model to give local students the opportunity to prove they have the motivation, skills and capacity to farm on a commercial scale. Their target clients are male and female agricultural students in the Chimoio region of Mozambique who enrolled in agriculture courses to pursue careers in this area.
The funds from Kiva lenders will be used to establish the first small plots for these farmers. Once they achieve success on the smaller plots, these entrepreneurs can grow their plot size through additional funding and eventually lease and manage large-scale blocks, generating even more income for themselves and their families.
Partner Description:
Africa Agricultural Development Company (AgDevCo) is a nonprofit venture capital organization devoted to creating successful agribusinesses in low-income countries. By investing in agribusinesses, AgDevCo enables them to grow large enough to attract other private investments from domestic and overseas organizations.
By taking a hands-on development role – including identifying projects, responsibly securing access to land, organizing smallholder farmers and linking them to markets – AgDevCo removes many of the front-end development costs and risks that deter private investment in African agriculture. After identifying promising agriculture projects, AgDevCo then provides technical assistance and raises third-party capital from Development Finance Institutions (DFIs) and private investors to finance both small- and large-scale development costs.
Agriculture is one of Africa’s best routes for boosting economic growth and reducing poverty, as large areas of the continent have a suitable climate, abundant land and access to major water resources. Mozambique is considered one of the countries in sub-Saharan Africa that has tremendous agricultural potential.
A unique lending approach
Through one of its main projects, AgDevCo aims to provide finance and extension services to identify, educate and ultimately help leading agricultural students graduate to commercially sustainable farmers. The organization is currently using a business-driven model to give local students the opportunity to prove they have the motivation, skills and capacity to farm on a commercial scale. Their target clients are male and female agricultural students in the Chimoio region of Mozambique who enrolled in agriculture courses to pursue careers in this area.
The funds from Kiva lenders will be used to establish the first small plots for these farmers. Once they achieve success on the smaller plots, these entrepreneurs can grow their plot size through additional funding and eventually lease and manage large-scale blocks, generating even more income for themselves and their families.
Repayment Performance on Kiva
Repayment Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Start Date On Kiva | Nov 30, 2012 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $18,475 | $426,910,600 | |
| Amount of Raised Inactive Loans | $0 | $238,825 | |
| Number Of Raised Inactive Loans | 0 | 207 | |
| Amount of Paying Back Loans | $18,475 | $94,248,000 | |
| Number Of Paying Back Loans | 5 | 101,761 | |
| Amount of Ended Loans | $0 | $332,423,775 | |
| Number Of Ended Loans | 0 | 435,945 | |
| Delinquency Rate | 0.00% | 1.89% | |
| Amount In Arrears | $0 | $1,148,081 | |
| Outstanding Portfolio | $18,475 | $60,666,465 | |
| Number of Loans Delinquent | 0 | 8,937 | |
| Default Rate | 0.00% | 0.97% | |
| Amount of Ended Loans Defaulted | $0 | $3,220,059 | |
| Amount of Ended Loans | $0 | $332,423,775 | |
| Number Of Ended Loans Defaulted | 0 | 9,823 | |
| Currency Exchange Loss Rate | 0.00% | 0.02% | |
| Amount of Currency Exchange Loss | $0 | $77,435 | |
| Refund Rate | 0.00% | 0.95% | |
| Amount of Refunded Loans | $0 | $4,068,925 | |
| Number Of Refunded Loans | 0 | 4,589 |
Loan Characteristics On Kiva
Loan Characteristics On Kiva| This Field Partner | All Kiva Partners | ||
| Loans To Women Entrepreneurs | 0.00% | 74.04% | |
|---|---|---|---|
| Average Loan Size | $3,695 | $407 | |
| Average Individual Loan Size | $3,695 | $646 | |
| Average Group Loan Size | $0 | $1,744 | |
| Average Number Of Entrepreneurs Per Group | 0 | 8 | |
| Average GDP Per Capita (PPP) in Local Country | $1,389 | $3,346 | |
| Average Loan Size / GDP Per Capita (PPP) | 266.02% | 12.17% | |
| Average Time To Fund A Loan | 13.92 days | 4.68 days | |
| Average Dollars Raised Per Day Per Loan | $265.45 | $87.00 | |
| Average Loan Term | 12 months | 9.61 months |
Journaling Performance on Kiva
Journaling Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Total Journals | 5 | 203,883 | |
|---|---|---|---|
| Journaling Rate | 0.00% | 39.99% | |
| Average Number Of Comments Per Journal | 0.00 | 0.11 | |
| Average Number Of Recommendations Per Journal | 0.20 | 2.72 |
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 | N/A | N/A | 35.13% | |
|---|---|---|---|---|
| Profitability (Return on Assets) | N/A | N/A | -0.15% | |
| Average Loan Size (% of Per Capita Income) | N/A | 70.10% | 47.07% |
Country Fast Facts
Country Fast Facts- Country:
- Mozambique
- Capital:
- Maputo
- Official Language:
- Portuguese
- Population:
- 19,792,000
- Avg Annual Income:
- $1,389
- Labor Force:
- agriculture 81%, industry 6%, services 13%
- Population Below Poverty Line:
- 70%
- Literacy Rate:
- 47.8%
- Infant Mortality Rate (per 1000):
- 199 deaths
- Life Expectancy:
- 31.3 years
Field Partner Staff
James CairnsDaniel Hulls
Chris Isaac
Lauren Ryder
Roseanne Whalley