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 — April 15, 2016

Kiva and AgDevCo have mutually agreed to end their partnership after 2.5 years and $25,275 in loans raised to support 13 farmers in selected regions of Mozambique by providing funding for their farm inputs and other related costs. This decision was reached by both parties on realization that  Kiva’s lending model could not be sustainably accommodated within AgDevCo’s current operational framework.


Partner Description:

Africa Agricultural Development Company (AgDevCo) is a nonprofit venture capital organization devoted to creating successful agribusinesses in low-income countries. By investing in agribusinesses, AgDevCo enables them to grow large enough to attract other private investments from domestic and overseas organizations. 

By taking a hands-on development role – including identifying projects, responsibly securing access to land, organizing smallholder farmers and linking them to markets – AgDevCo removes many of the front-end development costs and risks that deter private investment in African agriculture. After identifying promising agriculture projects, AgDevCo then provides technical assistance and raises third-party capital from Development Finance Institutions (DFIs) and private investors to finance both small- and large-scale development costs. 

Agriculture is one of Africa’s best routes for boosting economic growth and reducing poverty, as large areas of the continent have a suitable climate, abundant land and access to major water resources. Mozambique is considered one of the countries in sub-Saharan Africa that has tremendous agricultural potential. 

A unique lending approach 

Through one of its main projects, AgDevCo aims to provide finance and extension services to identify, educate and ultimately help leading agricultural students graduate to commercially sustainable farmers. The organization is currently using a business-driven model to give local students the opportunity to prove they have the motivation, skills and capacity to farm on a commercial scale. Their target clients are male and female agricultural students in the Chimoio region of Mozambique who enrolled in agriculture courses to pursue careers in this area.         

The funds from Kiva lenders will be used to establish the first small plots for these farmers. Once they achieve success on the smaller plots, these entrepreneurs can grow their plot size through additional funding and eventually lease and manage large-scale blocks, generating even more income for themselves and their families.

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Nov 30, 2012 Oct 12, 2005
Total Loans $25,275 $1,960,332,725
Amount of raised Inactive loans $0 $363,745
Number of raised Inactive loans 0 340
Amount of Paying Back Loans $0 $155,574,760
Number of Paying Back Loans 0 179,650
Amount of Ended Loans $25,275 $1,774,353,705
Number of Ended Loans 13 2,381,315
Delinquency Rate 0.00% 11.63%
Amount in Arrears $0 $10,909,601
Outstanding Portfolio $0 $93,825,344
Number of Loans Delinquent 0 45,861
Default Rate 0.00% 1.82%
Amount of Ended Loans Defaulted $0 $32,353,274
Number of Ended Loans Defaulted 0 84,927
Currency Exchange Loss Rate 7.82% 0.49%
Amount of Currency Exchange Loss $1,976 $12,023,352
Refund Rate 0.00% 0.54%
Amount of Refunded Loans $0 $10,526,300
Number of Refunded Loans 0 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 14.29% 78.24%
Average Loan Size $243 $392
Average Individual Loan Size $3,695 $589
Average Group Loan Size $850 $1,892
Average number of borrowers per group 12.4 8.3
Average GDP per capita (PPP) in local country $1,200 $5,599
Average Loan Size / GDP per capita (PPP) 20.25% 7.00%
Average Time to Fund a Loan 6.15 days 8.93 days
Average Dollars Raised Per Day Per Loan $39.51 $43.86
  Average Loan Term 9.86 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 5 1,181,163
  Journaling Rate 38.46% 42.24%
  Average Number of Comments Per Journal 0.00 0.02
  Average Number of Recommendations Per Journal 0.20 0.57

Borrowing Cost Comparison (based on 2011 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 14% APR 68.00% PY 27.02% PY
  Profitability (return on assets) N/A 2.1% -3.10%
  Average Loan Size (% of per capita income) N/A 86.00% 0.00%

Country Fast Facts

Lending Partner Staff