Status update - November 3, 2020

Since mid-2019, Sikubora has been facing financial and operational problems mainly linked to client high delinquency and default rates. Despite efforts to address them and pivot their business model, Sikubora's problems were compounded by the Covid-19 pandemic. The company hasn't generated any profits in the last 12 months and prospects for loan recovery are minimal. Because of the lack of clarity in future payments, we are defaulting this loan. Kiva will try to stay in touch with Sikubora and hopes to be able to share better news in the near future. If/when Sikubora does make repayment to Kiva, they will be passed along to lenders.

There is no Lending Partner for this loan. It is part of the Direct to Social Enterprise program. For more details on DSE, please click here. For more details on the borrower, please refer to their loan profile. 


Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Apr 17, 2017 Oct 12, 2005
Total Loans $60,000 $1,962,045,250
Amount of raised Inactive loans $0 $898,755
Number of raised Inactive loans 0 437
Amount of Paying Back Loans $0 $154,663,925
Number of Paying Back Loans 0 180,233
Amount of Ended Loans $60,000 $1,775,886,350
Number of Ended Loans 2 2,382,964
Delinquency Rate 0.00% 11.48%
Amount in Arrears $0 $10,646,073
Outstanding Portfolio $0 $92,699,447
Number of Loans Delinquent 0 44,536
Default Rate 50.00% 1.82%
Amount of Ended Loans Defaulted $30,000 $32,352,443
Number of Ended Loans Defaulted 1 84,926
Currency Exchange Loss Rate 0.00% 0.49%
Amount of Currency Exchange Loss $0 $12,026,994
Refund Rate 0.00% 0.54%
Amount of Refunded Loans $0 $10,526,300
Number of Refunded Loans 0 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 0.00% 78.24%
Average Loan Size $30,000 $392
Average Individual Loan Size $30,000 $589
Average Group Loan Size $0 $1,892
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $1,900 $5,599
Average Loan Size / GDP per capita (PPP) 1,578.95% 7.00%
Average Time to Fund a Loan 6.03 days 8.94 days
Average Dollars Raised Per Day Per Loan $4,974.81 $43.85
  Average Loan Term 17 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 15 1,181,733
  Journaling Rate 100.00% 42.25%
  Average Number of Comments Per Journal 0.00 0.02
  Average Number of Recommendations Per Journal 0.00 0.57

Borrowing Cost Comparison (based on 2009 data)

    This Lending Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower N/A 21.00% PY 27.02% PY
  Profitability (return on assets) -51.7% 0.2% -3.10%
  Average Loan Size (% of per capita income) N/A 134.00% 0.00%

Country Fast Facts

Country:
Tanzania
Capital:
Dodoma
Official Language:
Kiswahili (official), Kiunguja, English (official), Arabic, many local languages
Population:
49,639,138
Avg Annual Income:
$1,900
Labor Force:
agriculture: 80%, industry and services: 20%
Population Below Poverty Line:
28.20%
Literacy Rate:
70.60%
Infant Mortality Rate (per 1000):
43.47 deaths
Life Expectancy:
60.07 years

Lending Partner Staff