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

Status update — November 14, 2016

Honey Care's final loans with Kiva have ended or defaulted, and this partnership has now been closed. For the past year, Kiva has been working with Honey Care to try to recover the remaining outstanding amount due to Kiva lenders. The organization has faced serious difficulties due to poor environmental conditions which limited honey production, and despite efforts to address these issues, it was unable to make sufficient payments on obligations to its funders. Kiva’s present assessment is that this Field Partner is unable to make further payments, and thus the remaining $244,768.13 in outstanding amounts due to Kiva lenders has now been defaulted. If Kiva is able to recover any additional funds from Honey Care, they will be applied to lender accounts on a pro-rata basis.

 

Status update — June 25, 2015

Kiva has moved this Field Partner to inactive status. This means Honey Care 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. The reasons a partner might become inactive include: taking time to develop a new type of loan, turnover on the partner’s management team, a shift in overall strategy or changes in funding sources. 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:

Honey Care Africa (HCA) is a for-profit social enterprise that has launched its business in a Beehive program to provide smallholder farmers in rural areas with the inputs, training, services and market access necessary to become commercial honey producers. Founded in Kenya in 2000, the organization is a member of the World Fair Trade Organization, guaranteeing a competitive fixed purchase price for honey on a contract basis. This enables farmers to repay their loans quickly and sell to a stable market.

HCA’s honey products are developed through extensive research and hands-on experience to be flavorful, reasonably priced and long lasting. To make this possible, its well-trained field team assists farmers in setting up and maintaining their hives. With the additional income from beekeeping, farmers are able to invest in their children’s educations and continue to grow their farms and beekeeping businesses.

Kiva lenders’ funds will enable HCA to provide specialized loans to purchase additional beehives. HCA will provide these loans in the form of hives in addition to training and ongoing support services. Farmers will repay the organization through deductions made from regular honey harvests.

Unique lending approach and partnerships

HCA offers a micro-enterprise opportunity for farmers to raise bees, produce honey and sell it to a reliable customer. In turn, HCA markets primarily to African consumers through supermarkets and corporate partners that use honey in their products (like cookies, biscuits and other baked goods).  

Honey Care Africa’s clients in the field.

Because HCA purchases honey from the beekeepers at a guaranteed price, contracts are safe and stable. The organization’s goal is to maximize the income of rural farmers throughout East Africa in order to help meet Millennium Development Goals. In 2005, HCA was named the top small-to-medium-sized-business in Africa by the Africa SMME Awards. Additionally, the organization received the U.N. Sustainable Development Award for consistently reducing poverty in the local communities it serves.

Image courtesy of Honey Care Africa.


Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Dec 27, 2012 Oct 12, 2005
Total Loans $257,875 $907,187,850
Amount of raised Inactive loans $0 $1,241,575
Number of raised Inactive loans 0 1,229
Amount of Paying Back Loans $0 $144,182,325
Number of Paying Back Loans 0 177,966
Amount of Ended Loans $257,875 $761,763,950
Number of Ended Loans 913 949,282
Delinquency Rate 0.00% 8.85%
Amount in Arrears $0 $8,447,791
Outstanding Portfolio $0 $95,469,515
Number of Loans Delinquent 0 30,621
Default Rate 94.94% 1.36%
Amount of Ended Loans Defaulted $244,824 $10,392,735
Number of Ended Loans Defaulted 902 29,689
Currency Exchange Loss Rate 1.28% 0.46%
Amount of Currency Exchange Loss $3,309 $4,145,375
Refund Rate 2.35% 0.64%
Amount of Refunded Loans $6,050 $5,824,625
Number of Refunded Loans 23 5,887

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 44.97% 75.01%
Average Loan Size $282 $405
Average Individual Loan Size $282 $636
Average Group Loan Size $0 $1,795
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $1,800 $5,918
Average Loan Size / GDP per capita (PPP) 15.67% 6.84%
Average Time to Fund a Loan 1.6 days 6.97 days
Average Dollars Raised Per Day Per Loan $176.65 $58.07
  Average Loan Term 44.29 months 11.09 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 903 470,703
  Journaling Rate 96.19% 41.78%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.23

Borrowing Cost Comparison (based on 2011 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 7% APR 36.00% PY 26.37% PY
  Profitability (return on assets) N/A 0.5% 0.15%
  Average Loan Size (% of per capita income) N/A 56.00% 18.21%

Country Fast Facts

Field Partner Staff

Madison Ayer
Alexei Bezborodov
Elin Eliasson
Gloria Kaluki
Andrew Loebus
Joe Mwangi
Jane Shunge
Eva Wafula
Gerry Waka