Status Update: March 14, 2009

Kiva’s partnership with People Microcredit Investment Bureau (PEMCI) has been CLOSED. PEMCI, is based in Malaba, Northern Kenya, very close to the Ugandan border. As you may know, this region was severely affected by the riots and civil unrest that took place in Kenya in early 2008. A majority of PEMCI's entrepreneurs were adversely affected by this event, and this has resulted in a high number of defaulted loans.

PEMCI has made every effort to work with their clients to fully understand their unique situations and how it has affected their businesses and their ability to repay their loans. However, PEMCI has decided to default Kiva loans where (i) their clients have been unable to be located, (ii) clients' businesses have been destroyed, and (iii) clients may have otherwise suffered such extreme losses that their debt is causing them unusual difficulties. In certain cases, PEMCI is attempting to recover funds from borrowers, but the outcome of such collection activity is highly uncertain. While further collections are highly unlikely, if Kiva is able to collect further funds they will be distributed to affected lenders in accordance with the amounts loaned by such affected lenders to the defaulted PEMCI borrowers.

Original description posted by PEMCI:

Our Vision:

To become a financially viable and sustainable organization, delivering a wide range of financial and non-financial services that contribute to a better and equitable world for ALL.

Our work:

To build wealth and assets, encourage self-employment, increase incomes and restore market forces to benefit individuals and communities through affordable and sustainable microloans and related financial services. This would be achieved through: innovative ideas; diversified financial products; programs and services to individuals and communities especially low income entrepreneurs in the informal sector; networking with other development partners; teamwork and mobilization of resources and support nationally and worldwide.

PEMCI can be contacted directly at

Kiva HelpRepayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 14, 2006 Oct 12, 2005
Total Loans $111,550 $540,185,700
Amount of Raised Inactive Loans $0 $365,925
Number Of Raised Inactive Loans 0 252
Amount of Paying Back Loans $0 $111,883,875
Number Of Paying Back Loans 0 115,751
Amount of Ended Loans $111,550 $427,935,900
Number Of Ended Loans 342 549,722
Delinquency Rate 0.00% 3.26%
Amount In Arrears $0 $2,377,834
Outstanding Portfolio $0 $72,977,849
Number of Loans Delinquent 0 10,580
Default Rate 19.74% 1.01%
Amount of Ended Loans Defaulted $22,022 $4,332,252
Amount of Ended Loans $111,550 $427,935,900
Number Of Ended Loans Defaulted 148 14,039
Currency Exchange Loss Rate 0.00% 0.06%
Amount of Currency Exchange Loss $0 $298,028
Refund Rate 2.29% 0.82%
Amount of Refunded Loans $2,550 $4,417,000
Number Of Refunded Loans 3 4,864

Kiva HelpLoan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans To Women Entrepreneurs 48.12% 74.10%
Average Loan Size $331 $417
Average Individual Loan Size $331 $656
Average Group Loan Size $0 $1,814
Average Number Of Entrepreneurs Per Group 0 8
Average GDP Per Capita (PPP) in Local Country $1,800 $3,462
Average Loan Size / GDP Per Capita (PPP) 18.37% 12.06%
Average Time To Fund A Loan 0.26 days 5.29 days
Average Dollars Raised Per Day Per Loan $1,268.50 $78.89
  Average Loan Term 7.58 months 10.05 months

Kiva HelpJournaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 91 269,088
  Journaling Rate 23.68% 42.08%
  Average Number Of Comments Per Journal 0.58 0.09
  Average Number Of Recommendations Per Journal 3.58 2.06

Kiva HelpBorrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI Peers in Country All Kiva Partners
  Portfolio Yield N/A N/A 34.93%
  Profitability (Return on Assets) N/A N/A -1.11%
  Average Loan Size (% of Per Capita Income) N/A 51.50% 42.70%

Kiva HelpCountry Fast Facts

Field Partner Staff

Margaret Karuri
Michael Mucheru
William Mwago