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: 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, 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 $935,100 $1,388,904,475
Amount of raised Inactive loans $0 $168,075
Number of raised Inactive loans 0 71
Amount of Paying Back Loans $424,600 $149,011,425
Number of Paying Back Loans 1,330 195,825
Amount of Ended Loans $510,500 $1,239,724,975
Number of Ended Loans 817 1,602,792
Delinquency Rate 19.21% 12.43%
Amount in Arrears $35,721 $11,576,973
Outstanding Portfolio $153,323 $93,139,046
Number of Loans Delinquent 419 75,023
Default Rate 6.28% 1.75%
Amount of Ended Loans Defaulted $32,060 $21,702,685
Number of Ended Loans Defaulted 239 52,581
Currency Exchange Loss Rate 0.28% 0.38%
Amount of Currency Exchange Loss $2,637 $5,291,386
Refund Rate 0.04% 0.59%
Amount of Refunded Loans $375 $8,230,675
Number of Refunded Loans 1 8,220

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 72.97% 76.51%
Average Loan Size $93 $392
Average Individual Loan Size $100 $608
Average Group Loan Size $494 $1,757
Average number of borrowers per group 5.3 7.8
Average GDP per capita (PPP) in local country $2,200 $5,757
Average Loan Size / GDP per capita (PPP) 4.23% 6.81%
Average Time to Fund a Loan 0.51 days 7.14 days
Average Dollars Raised Per Day Per Loan $183.56 $54.94
  Average Loan Term 11.36 months 11.37 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 1,365 846,808
  Journaling Rate 28.85% 43.40%
  Average Number of Comments Per Journal 0.00 0.03
  Average Number of Recommendations Per Journal 0.00 0.76

Borrowing Cost Comparison (based on 2017 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 0% APR N/A 26.14% PY
  Profitability (return on assets) -78.69% N/A -2.30%
  Average Loan Size (% of per capita income) N/A N/A 12.52%

Country Fast Facts

Field Partner Staff

Georgia Armitage
Brett Battie
Viola Chimono
Viola Chimono
Mothibeli Lesaoana
Moelo Mokole
Tyler Sanderson
Alice Troostwijk
Judith Walker
Ruben Walker