Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Status update — July 17, 2018

Kiva and Turame Community Finance have agreed to end their partnership after nearly 8 years and nearly $5,000,000 in loans raised. This partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Turame for the years of collaboration and wish them success in their future endeavors.

Status update — April 26, 2017

Kiva has moved this Lending Partner to inactive status, due to changes in their funding sources. This means Turame is no longer fundraising loans on Kiva, though Kiva fully expects the partner to continue to send repayments owed to Kiva lenders for as long as the partner has an outstanding balance. If and when this partner requests to fundraise again on Kiva, Kiva will first conduct any additional monitoring and due diligence tasks we believe necessary.

Partner description:

Turame Community Finance, s.a., a partner of World Relief and HOPE International, is a leading microfinance institution in Burundi. In 2004 Turame began its activities as the social development arm of World Relief in two Burundian provinces: Bujumbura and Gitega. Each province started with 8 groups each, for a total of 715 clients. On January 2007, it was then registered as a licensed microfinance institution, which seeks to reduce human suffering caused by poverty through providing financial and non-financial services. As of December 2009, it has grown to work in 10 of 17 provinces with more than 19,000 clients.

Turame’s vision is to reduce human suffering and empower all Burundian families to live spiritually, economically, and socially transformed lives, enjoying life in abundance in the Kingdom of God.

The mission of Turame is to deliver financial and related non-financial services to productive Burundians, especially the poor and women, through the development of sustainable micro (small-scale) enterprises and by encouraging people to save.

Turame offers competitive products, including credit delivery, savings, credit with education, business training and counselling. The main lending methodology is community banking, Solidarity groups and individual lending.

Turame has a 5-year business plan (2009 to 2013) and the target is to reach 40,000 clients at the end of the business plan. This includes developing several new products according to what the customer wants.

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Mar 27, 2010 Oct 12, 2005
Total Loans $4,919,375 $1,963,391,405
Amount of raised Inactive loans $0 $623,050
Number of raised Inactive loans 0 271
Amount of Paying Back Loans $0 $155,983,140
Number of Paying Back Loans 0 182,346
Amount of Ended Loans $4,919,375 $1,776,188,995
Number of Ended Loans 1,646 2,383,143
Delinquency Rate 0.00% 11.21%
Amount in Arrears $0 $10,545,215
Outstanding Portfolio $0 $94,056,681
Number of Loans Delinquent 0 43,938
Default Rate 2.62% 1.82%
Amount of Ended Loans Defaulted $128,944 $32,352,693
Number of Ended Loans Defaulted 145 84,927
Currency Exchange Loss Rate 0.02% 0.49%
Amount of Currency Exchange Loss $910 $12,028,211
Refund Rate 0.39% 0.54%
Amount of Refunded Loans $19,050 $10,528,825
Number of Refunded Loans 7 9,602

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 71.63% 78.25%
Average Loan Size $136 $392
Average Individual Loan Size $599 $589
Average Group Loan Size $3,044 $1,893
Average number of borrowers per group 22.5 8.3
Average GDP per capita (PPP) in local country $600 $5,599
Average Loan Size / GDP per capita (PPP) 22.63% 7.00%
Average Time to Fund a Loan 8.86 days 8.94 days
Average Dollars Raised Per Day Per Loan $15.33 $43.84
  Average Loan Term 6.43 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 310 1,181,957
  Journaling Rate 17.62% 42.25%
  Average Number of Comments Per Journal 0.01 0.02
  Average Number of Recommendations Per Journal 0.00 0.57

Borrowing Cost Comparison (based on 2014 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 65% PY 24.00% PY 27.02% PY
  Profitability (return on assets) -0.2% 4.4% -3.03%
  Average Loan Size (% of per capita income) N/A 159.00% 0.00%

Country Fast Facts

Lending Partner Staff