Togo > FECECAV

About the Field Partner

FECECAV administers this loan. Learn more
Field Partner:	FECECAV
Field Partner Risk Rating:	(Learn more)
Time on Kiva:	25 months
Kiva Entrepreneurs:	1462
Total Loans:	$1,077,800
Interest & Fees are Charged:	Yes (Learn more)
Portfolio Yield: 26% Profitability (Return on Assets): N/A Average Loan Size (% of Per Capita Income): 83%
Delinquency Rate:	0.00%
Default Rate:	0.00%
Currency Exchange Loss Rate:	0.00%
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Kiva Fundraising Status

Fundraising Status	Active
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Other Information Sources

MIX Profile	View MIX Profile
Network Affiliation	APIMT - Association Professionnelle des Institutions de la Microfinance au Togo
Social Performance Reporting Level	N/A
Consumer Protection Principles	N/A
Field Partner Website	None
Email Contact	fcecav@yahoo.fr

Status update - September 21, 2009:

In June 2009, while preparing visits to Kiva borrowers, a Kiva Fellow uncovered significant discrepancies in the loan amounts and terms posted by FECECAV. In violation of Kiva’s policies, the person in charge of submitting loans to the website regularly increased or reduced loan amounts and changed disbursement dates in order to quickly meet monthly fundraising targets.

The problem stemmed from lack of oversight rather than any deliberate intention of defrauding Kiva, and FECECAV has taken several steps to correct the issue. A new Kiva Coordinator position was created within the organization to minimize conflicts of interest, and the person has been hired and trained with the help of the Kiva Fellow. FECECAV is additionally taking steps to improve its loan tracking system and is requiring that loan officers, branch managers, and the Kiva Coordinator all attest to the accuracy of the data before a profile is submitted to Kiva. Finally, the Executive Director has committed to a monthly audit of five profiles as well as improved journaling in order to regularly verify the information submitted to Kiva.

We will be working closely with FECECAV over the next few months to monitor the situation. We are also sending a new Kiva Fellow to the organization in October in order to provide additional support for improving and strengthening the Kiva process at FECECAV. We trust that the steps taken have corrected the problem and will keep you updated on any new developments.

Partner description

FECECAV is a cooperative union created in 1995 and registered in 1997. It's mission is to serve the financial needs of local people who have been excluded from the traditional financial system. It serves more than 10,000 members in the Plateaux and Maritime regions of Togo. FECECAV is a non-profit organization.

FECECAV est une union de caisse créée en 1995 et agréée en 1997. Elle couvre la région des plateaux et maritime. Sa mission est de satisfaire les besoins financiers des populations de la région exclues du système financier classique. Elle compte aujourd hui plus de 10000 membres et entend étendre ses activités dans les autres localités environnantes de la région. FECECAV est à but non lucratif.