African Clean Energy (ACE)
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: August 15, 2018
Kiva granted ACE a grace period on payments owed to Kiva lenders since they were not allowed to fundraise between April and July due to high delinquency. ACE has remained in contact with Kiva as they worked to improve their credit processes and has been allowed to resume fundraising.
Partner Description:
African Clean Energy (ACE) is a family-owned social enterprise, which manufactures and sells innovative cookstoves in Lesotho, Uganda, and Cambodia. 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.
A unique lending approach:
Kiva funding would allow ACE to expand its existing loan program for customers to purchase cookstoves in Lesotho, Uganda, and Cambodia.
Repayment Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Start Date On Kiva | Jul 20, 2015 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $2,316,925 | $2,044,091,155 | |
Amount of raised Inactive loans | $0 | $276,125 | |
Number of raised Inactive loans | 0 | 157 | |
Amount of Paying Back Loans | $343,600 | $159,534,660 | |
Number of Paying Back Loans | 2,813 | 191,982 | |
Amount of Ended Loans | $1,973,325 | $1,843,394,190 | |
Number of Ended Loans | 10,715 | 2,482,279 | |
Delinquency Rate | 82.84% | 12.22% | |
Amount in Arrears | $136,231 | $12,035,288 | |
Outstanding Portfolio | $164,444 | $98,468,303 | |
Number of Loans Delinquent | 2,434 | 65,685 | |
Default Rate | 9.77% | 1.83% | |
Amount of Ended Loans Defaulted | $192,798 | $33,692,204 | |
Number of Ended Loans Defaulted | 2,193 | 88,878 | |
Currency Exchange Loss Rate | 0.69% | 0.47% | |
Amount of Currency Exchange Loss | $16,061 | $12,608,670 | |
Refund Rate | 0.02% | 0.54% | |
Amount of Refunded Loans | $475 | $10,936,620 | |
Number of Refunded Loans | 2 | 9,669 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 62.31% | 78.46% | |
---|---|---|---|
Average Loan Size | $103 | $393 | |
Average Individual Loan Size | $113 | $586 | |
Average Group Loan Size | $461 | $1,910 | |
Average number of borrowers per group | 4.9 | 8.3 | |
Average GDP per capita (PPP) in local country | $2,200 | $5,593 | |
Average Loan Size / GDP per capita (PPP) | 4.70% | 7.02% | |
Average Time to Fund a Loan | 0.54 days | 9.11 days | |
Average Dollars Raised Per Day Per Loan | $190.07 | $43.10 | |
Average Loan Term | 12.81 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 4,200 | 1,218,131 | |
---|---|---|---|
Journaling Rate | 22.67% | 41.90% | |
Average Number of Comments Per Journal | 0.00 | 0.02 | |
Average Number of Recommendations Per Journal | 0.00 | 0.55 |
Borrowing Cost Comparison (based on 2017 data)
This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 0% APR | N/A | 26.44% PY | |
---|---|---|---|---|
Profitability (return on assets) | -126.34% | N/A | -1.35% | |
Average Loan Size (% of per capita income) | N/A | N/A | 0.00% |
Country Fast Facts
- Country:
- Lesotho
- Capital:
- Maseru
- Official Language:
- Sesotho (official), English (official), Zulu, Xhosa
- Population:
- 1,942,008
- Avg Annual Income:
- $2,200
- Labor Force:
- agriculture: 86%, industry and services: 14%
- Population Below Poverty Line:
- 49.00%
- Literacy Rate:
- 89.60%
- Infant Mortality Rate (per 1000):
- 50.48 deaths
- Life Expectancy:
- 52.65 years
Lending Partner Staff
Wang /CTOChristine Akuno
Flavia Aloyo
Juliet Amara
Vincent Ayom
Viola Chimono
Andra Du Plooy
Amarins Harkema
Liza Heykoop
Tseliso Kolisang
Brenda Kwaga
Malepeo Mokete
Lillian Ngabire
Jesca Odraru
Paul Ogwang
Chemutai Prima
Dylan Rogers
Vichka Sao
Denis Tanga
Judith Walker