Nke-Anyi Farmers Multipurpose Cooperative Society, registered in 1998, was established to empower rural palm oil millers working in the southeastern Nigerian states of Anambra, Imo, Abia and Rivers State.
The organization works with clients to provide access to financial services, training, access to markets and SMS-based information around palm oil prices. Each member of the cooperative saves a certain amount per month, and then these funds are disbursed to society members throughout the year.
A unique lending approach:
Nke-Anyi is a cooperative in Nigeria that provides its clients, palm oil millers, with access to financial services and markets, training and helpful information.
The co-op functions as a merry-go-round, where all members save a certain amount per month. These funds are then dispersed to society members throughout the year.
The organization acts as a savings institution for clients, where each loan generates a return that is divided amongst the members at the end of the year as a proportion of what they put in. Each loan can be used for palm oil processing, storage, and equipment.
In addition to financing, Nke-Anyi also provides clients with training in palm oil processing and access to markets. The organization has also implemented a SMS service that provides the daily market price of palm oil, along with tips and notes about farming.
Unfortunately, the organization is currently unable to lend to each person who applies for a loan. With Kiva’s support, all clients could receive a loan in a year.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Apr 4, 2014 Oct 12, 2005
Total Loans $112,700 $874,960,175
Amount of raised Inactive loans $0 $710,400
Number of raised Inactive loans 0 536
Amount of Paying Back Loans $39,700 $136,648,425
Number of Paying Back Loans 36 167,060
Amount of Ended Loans $73,000 $737,601,350
Number of Ended Loans 53 916,439
Delinquency Rate 14.67% 8.46%
Amount in Arrears $5,825 $7,476,165
Outstanding Portfolio $39,700 $88,321,485
Number of Loans Delinquent 5 22,435
Default Rate 6.82% 1.32%
Amount of Ended Loans Defaulted $4,975 $9,707,641
Number of Ended Loans Defaulted 3 27,160
Currency Exchange Loss Rate 7.48% 0.44%
Amount of Currency Exchange Loss $8,426 $3,823,595
Refund Rate 0.00% 0.65%
Amount of Refunded Loans $0 $5,700,625
Number of Refunded Loans 0 5,834

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 70.30% 74.90%
Average Loan Size $416 $407
Average Individual Loan Size $891 $640
Average Group Loan Size $1,390 $1,805
Average number of borrowers per group 3.7 7.8
Average GDP per capita (PPP) in local country $6,100 $5,934
Average Loan Size / GDP per capita (PPP) 6.82% 6.86%
Average Time to Fund a Loan 5.27 days 6.92 days
Average Dollars Raised Per Day Per Loan $78.90 $58.85
  Average Loan Term 9.62 months 11.06 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 8 447,522
  Journaling Rate 12.70% 41.57%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.27

Borrowing Cost Comparison (based on 2009 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 17% APR 39.00% PY 26.87% PY
  Profitability (return on assets) N/A 2.5% -0.78%
  Average Loan Size (% of per capita income) N/A 43.00% 18.82%

Country Fast Facts

Field Partner Staff

Victor Akuegbuonwu