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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 $194,350 $874,960,175
Amount of raised Inactive loans $0 $710,400
Number of raised Inactive loans 0 536
Amount of Paying Back Loans $179,500 $136,648,425
Number of Paying Back Loans 199 167,060
Amount of Ended Loans $14,850 $737,601,350
Number of Ended Loans 15 916,439
Delinquency Rate 5.73% 8.46%
Amount in Arrears $5,595 $7,476,165
Outstanding Portfolio $97,574 $88,321,485
Number of Loans Delinquent 71 22,435
Default Rate 0.00% 1.32%
Amount of Ended Loans Defaulted $0 $9,707,641
Number of Ended Loans Defaulted 0 27,160
Currency Exchange Loss Rate 0.31% 0.44%
Amount of Currency Exchange Loss $606 $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 80.54% 74.90%
Average Loan Size $92 $407
Average Individual Loan Size $0 $640
Average Group Loan Size $908 $1,805
Average number of borrowers per group 9.9 7.8
Average GDP per capita (PPP) in local country $2,200 $5,934
Average Loan Size / GDP per capita (PPP) 4.18% 6.86%
Average Time to Fund a Loan 0.22 days 6.92 days
Average Dollars Raised Per Day Per Loan $413.71 $58.85
  Average Loan Term 10.05 months 11.06 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 168 447,300
  Journaling Rate 78.13% 41.58%
  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 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 0% APR N/A 26.87% PY
  Profitability (return on assets) 8.5% N/A -0.78%
  Average Loan Size (% of per capita income) N/A N/A 18.82%

Country Fast Facts

Field Partner Staff

Thijs Faber
Nthabiseng Maputsoe
Alice Troostwijk
Judith Walker
Ruben Walker