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Partner Description:

African Clean Energy (ACE) is a family-owned social enterprise, which manufactures and sells innovative cookstoves in Lesotho, as well as exports them further abroad. The company designs highly efficient cookstoves that burn smokelessly and use about 50-70% less fuel than traditional cookstoves. The solar-charged cookstoves also feature a unique USB port for charging phones and running LED lamps.

ACE cookstoves are regarded as one of the highest quality cookstoves on the market, which reduce emissions enough to yield health benefits. The organization has also started a donation program to provide cookstoves to underage orphans in Lesotho who have lost both of their parents to HIV/AIDS.

A unique lending approach:

Kiva funding would allow ACE to expand its existing loan program for customers to purchase cookstoves. The company offers the loans to groups of 10+ individuals from suburban and rural communities. Each loan requires a down payment of 25%.

ACE would also like to offer longer loan terms starting in Lesotho and then expanding into the more rural areas of South Africa, where communities are generally lower income.

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jul 20, 2015 Oct 12, 2005
Total Loans $367,525 $996,535,525
Amount of raised Inactive loans $0 $327,400
Number of raised Inactive loans 0 379
Amount of Paying Back Loans $336,450 $147,874,275
Number of Paying Back Loans 398 186,027
Amount of Ended Loans $31,075 $848,333,850
Number of Ended Loans 34 1,069,051
Delinquency Rate 40.07% 8.66%
Amount in Arrears $55,977 $8,258,780
Outstanding Portfolio $139,709 $95,337,713
Number of Loans Delinquent 274 21,488
Default Rate 0.67% 1.41%
Amount of Ended Loans Defaulted $209 $11,926,226
Number of Ended Loans Defaulted 5 34,332
Currency Exchange Loss Rate 0.16% 0.45%
Amount of Currency Exchange Loss $606 $4,519,864
Refund Rate 0.00% 0.60%
Amount of Refunded Loans $0 $5,985,075
Number of Refunded Loans 0 6,003

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 82.51% 75.52%
Average Loan Size $97 $398
Average Individual Loan Size $0 $627
Average Group Loan Size $851 $1,756
Average number of borrowers per group 8.8 7.7
Average GDP per capita (PPP) in local country $2,200 $5,871
Average Loan Size / GDP per capita (PPP) 4.39% 6.78%
Average Time to Fund a Loan 0.47 days 6.92 days
Average Dollars Raised Per Day Per Loan $205.29 $57.53
  Average Loan Term 10.11 months 11.13 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 900 521,170
  Journaling Rate 91.60% 41.20%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.14

Borrowing Cost Comparison (based on 2016 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 0% APR N/A 26.33% PY
  Profitability (return on assets) 8.5% N/A -1.15%
  Average Loan Size (% of per capita income) N/A N/A 16.31%

Country Fast Facts

Field Partner Staff

Thijs Faber
Rapelang Ledia
Nthabiseng Maputsoe
Alice Troostwijk
Judith Walker
Ruben Walker