Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.

Partner description:
Fansoto is a nonprofit microfinance institution based in Senegal. Founded in 2016, Fansoto focuses on serving populations that are excluded from the traditional financial system, including vulnerable and underserved population groups. Fansoto provides credit and savings services, along with a wide range of non-financial services, to clients working in small entreprises, agriculture and livestock. Close to 100% of Fansoto's clients are women.

To better target these communities, Fansoto partners with local associations who have expressed that their beneficiaries are in need of microfinance products, such as associations working with widows and disabled people. Given that people of these backgrounds are often completely excluded from other financial services, including from traditional microfinance institutions, Fansoto is serving an unmet need.

A unique lending approach:
Fansoto will use Kiva financing to offer loans to underbanked populations in Senegal working in small enterprises, agriculture and livestock. Fansoto loans allow borrowers to buy small equipment and provide working capital. 

Fansoto loans are individual loans, however each individual must be part of a larger group with whom they participate in monthly or bi-monthly meetings/trainings. Group meetings are a space to train clients on a variety of themes, including financial education, economics, health, family, agriculture, and the environment.

Fansoto chose to begin operations in the Casamance region in Senegal, beneath the Gambia. This region has suffered from an ongoing low-level conflict for the past 30+ years that has displaced over 60,000 people, and is thus very underserved by the microfinance sector. While operating in extremely vulnerable areas means riskier work, Fansoto is placing significant emphasis on providing training for clients and have been finding repayment rates to be strong to date.

Repayment Performance on Kiva

    This Lending Partner All Kiva Partners
  Start Date On Kiva Nov 9, 2020 Oct 12, 2005
Total Loans $1,377,800 $1,958,454,115
Amount of raised Inactive loans $0 $196,930
Number of raised Inactive loans 0 171
Amount of Paying Back Loans $436,395 $161,031,645
Number of Paying Back Loans 662 188,514
Amount of Ended Loans $941,405 $1,768,236,180
Number of Ended Loans 1,607 2,370,020
Delinquency Rate 16.41% 12.22%
Amount in Arrears $45,143 $12,205,675
Outstanding Portfolio $191,413 $99,884,553
Number of Loans Delinquent 511 72,810
Default Rate 0.00% 1.83%
Amount of Ended Loans Defaulted $0 $32,298,216
Number of Ended Loans Defaulted 0 84,743
Currency Exchange Loss Rate 0.17% 0.50%
Amount of Currency Exchange Loss $4,968 $11,931,838
Refund Rate 2.81% 0.54%
Amount of Refunded Loans $38,675 $10,526,300
Number of Refunded Loans 43 9,596

Loan Characteristics On Kiva

    This Lending Partner All Kiva Partners
  Loans to Women Borrowers 100.00% 78.22%
Average Loan Size $613 $392
Average Individual Loan Size $613 $589
Average Group Loan Size $0 $1,891
Average number of borrowers per group 0 8.3
Average GDP per capita (PPP) in local country $2,300 $5,599
Average Loan Size / GDP per capita (PPP) 26.64% 7.00%
Average Time to Fund a Loan 12.46 days 8.93 days
Average Dollars Raised Per Day Per Loan $49.17 $43.87
  Average Loan Term 7.7 months 11.47 months

Journaling Performance on Kiva

    This Lending Partner All Kiva Partners
  Total Journals 1,086 1,178,576
  Journaling Rate 59.76% 42.26%
  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 23.00% PY 27.02% PY
  Profitability (return on assets) -1.11% -0.1% -3.10%
  Average Loan Size (% of per capita income) N/A 46.00% 0.00%

Country Fast Facts

Lending Partner Staff

Alphousseyni Cissé
Diery Sene
Papa Thiam