Rural Agency for Development (RAFODE)

Kenya

Rafode is a non-profit community development organization formed to provide financial services to the low income people in Kenya. We aim at reaching out to economically poor populations through the provision of savings and credit facilities. Our mission is to enable the poor to get access to credit and save in order to help them adress life cycle risks.

Kiva Fundraising Status

Fundraising Status: Closed
Kiva Notes: As you may be aware, each business on Kiva’s website is posted by one of Kiva’s 60+ Field Partners in 39 developing countries. A Field Partner is an independent microfinance institution that has a history of lending to the poor for a social purpose. They screen each entrepreneur, post his/her profile on the Kiva website, and administer your loan. Kiva routinely audits each Field Partner to ensure your loan is being dutifully administered to the entrepreneur you’ve selected. In the course of auditing our Field Partner, Rural Agency for Development (RAFODE) in Kenya, Kiva discovered that some entrepreneurs were not receiving the full amount of their loans. This violates Kiva’s policies and we have terminated our relationship with Rural Agency for Development (RAFODE). All of the loans made to entrepreneurs served by this Field Partner have been refunded. We hope you realize that our audit uncovered a true exception to the norm; the vast majority of our Field Partners administer your loans with the highest integrity. Kiva will continue to audit Field Partners to ensure your loan is being dutifully administered – and to make our website a model for transparency in international development. To help inform your choice of Field Partner as well as entrepreneur, we have launched a new feature on the site which helps you evaluate the Field Partner’s performance in your lending decision. See www.kiva.org/about/partners/ for details.

See all fundraising loans from this field partner >>

Repayment Performance on Kiva

	This Field Partner	All Kiva Partners
Start Date On Kiva	Jan 4, 2007	Oct 12, 2005
Total Loans	$0	$426,651,775
Amount of Raised Inactive Loans	$0	$238,975
Number Of Raised Inactive Loans	0	213
Amount of Paying Back Loans	$0	$94,149,725
Number Of Paying Back Loans	0	101,646
Amount of Ended Loans	$0	$332,263,075
Number Of Ended Loans	0	435,701
Delinquency Rate	0.00%	1.91%
Amount In Arrears	$0	$1,156,960
Outstanding Portfolio	$0	$60,497,022
Number of Loans Delinquent	0	9,042
Default Rate	0.00%	0.97%
Amount of Ended Loans Defaulted	$0	$3,220,059
Amount of Ended Loans	$0	$332,263,075
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	$24,450	$4,068,925
Number Of Refunded Loans	48	4,589

Loan Characteristics On Kiva

	This Field Partner	All Kiva Partners
Loans To Women Entrepreneurs	58.33%	74.04%
Average Loan Size	$509	$407
Average Individual Loan Size	$509	$646
Average Group Loan Size	$0	$1,744
Average Number Of Entrepreneurs Per Group	0	8
Average GDP Per Capita (PPP) in Local Country	$1,445	$3,345
Average Loan Size / GDP Per Capita (PPP)	35.25%	12.17%
Average Time To Fund A Loan	0.76 days	4.68 days
Average Dollars Raised Per Day Per Loan	$673.57	$86.95
Average Loan Term	9.5 months	9.61 months

Journaling Performance on Kiva

	This Field Partner	All Kiva Partners
Total Journals	0	203,801
Journaling Rate	0.00%	39.99%
Average Number Of Comments Per Journal	0.00	0.11
Average Number Of Recommendations Per Journal	0.00	2.72

Borrowing Cost Comparison (based on 2009 data)

	This Field Partner	Median for MFI Peers in Country	All Kiva Partners
Portfolio Yield	N/A	N/A	35.02%
Profitability (Return on Assets)	N/A	N/A	-0.38%
Average Loan Size (% of Per Capita Income)	N/A	51.50%	46.53%

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

Benson Malenya
Antony Mayodi
Nelson Ondiek