ASA Initiative is a Micro Finance Institution based in Cape Coast, Ghana, and operating in the central region of Ghana. ASA Initiative means Alternative Sets of Assistance as a corporate Initiative to improve the livelihood of productive poor households.

They target loan products to several sectors, with the majority of loans classified as general small business loans.  They have also added a mixture of higher -impact and higher-risk loans that could be expanded through Kiva funding.

A unique lending approach:

Kiva funding expands ASA Initiative’s loans for green energy and agriculture.

In the area of green loans, trained artisans produce and sell a new clean energy cook stoves known as ELSA Stove, which was recently developed by ASA Initiative’s project collaboration with University of Udine Italy under European Union/ACP Science and Technology program known as BeBi  project. Under the project, ASA Initiative also trained Cape Coast Technical Institute in the Elsa Stove technology for onward training of their students. The stove uses palm kennel shells (virgin pellet),  pellets produced locally by communities using locally available waste materials such as sawdust, corn cobs, coffee husk and other biomass for waste management. The residue after charring (biochar) is used to improve soil fertility and crop productivity of certain soil types.

Besides sale of stoves, the other financing opportunity will target entrepreneurs willing to process and sell palm kennel shells and, produce and sell pellets for the ELSA stoves using pelletizer machines.  Pelletizers are also fabricated locally with training from the Technical Institute.

The agricultural loans will initially target a group of farmers mainly specializing in lime and orange growing. The proposed loans will finance existing farmers with mature plantations of lime and orange trees to pay for farm maintenance inputs, labor, weeding and transportation to the buyers/processors. They have already identified Madrid fruit processing company who has agreed to buy directly from the farmers to guarantee income for loan repayment. Repayments will be deducted from farmer harvest revenue and paid to ASA initiative directly.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 18, 2014 Oct 12, 2005
Total Loans $37,625 $590,349,000
Amount of raised Inactive loans $37,625 $747,500
Number of raised Inactive loans 34 602
Amount of Paying Back Loans $0 $122,816,025
Number of Paying Back Loans 0 130,649
Amount of Ended Loans $0 $466,785,475
Number of Ended Loans 0 593,552
Delinquency Rate 0.00% 4.24%
Amount in Arrears $0 $3,465,940
Outstanding Portfolio $0 $81,653,348
Number of loanDelinquent 0 16,779
Default Rate 0.00% 1.15%
Amount of Ended Loans Defaulted $0 $5,349,645
Amount of Ended Loans $0 $466,785,475
Number of Ended Loans Defaulted 0 16,827
Currency Exchange Loss Rate 0.00% 0.08%
Amount of Currency Exchange Loss $0 $480,684
Refund Rate 0.00% 0.77%
Amount of Refunded Loans $0 $4,537,625
Number of Refunded Loans 0 5,064

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 26.00% 74.17%
Average Loan Size $251 $418
Average Individual Loan Size $0 $656
Average Group Loan Size $1,107 $1,828
Average number of borrowers per group 4.4 8
Average GDP per capita (PPP) in local country $2,643 $3,430
Average Loan Size / GDP per capita (PPP) 9.49% 12.19%
Average Time to Fund a Loan 11.01 days 5.59 days
Average Dollars Raised Per Day Per Loan $22.79 $74.78
  Average Loan Term 11.44 months 10.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 295,580
  Journaling Rate 0.00% 42.41%
  Average Number of Comments Per Journal 0.00 0.08
  Average Number of Recommendations Per Journal 0.00 1.87

Borrowing Cost Comparison (based on 2012 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 53% PY 53.00% PY 33.46% PY
  Profitability (return on assets) 0.3% 0.3% -1.39%
  Average Loan Size (% of per capita income) N/A 13.00% 41.11%

Country Fast Facts

Field Partner Staff

Veronica Agodoa Kitti