Fundraising Status:closed
Risk Rating:
What to know about this Lending Partner
Impact Category:
General Financial Inclusion
Default Rate:
0.01%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$704,825
Loans at Risk Rate:
0%
Kiva Borrowers:
997
Delinquency Rate:
0%
Interests and Fees:
N/A
Since mid-October, Youth Self Employment Foundation (YOSEFO) has brought down its amount in arrears on Kiva from $26,531.68 past due to $3,417. As a result, its delinquency rate as expressed on the Kiva website is currently 17.93%.
Kiva will continue to work closely with YOSEFO to get outstanding repayments cleared and repaid to Kiva lenders. We will keep this page updated in the coming months as new information becomes available.
Update: October 23, 2010
YOSEFO has been significantly delayed in paying funds due to Kiva lenders. As a result, on October 1, 2010, YOSEFO's delinquency rate increased to 49.97%, and as of October 15, 2010, YOSEFO is now $26,531.68 past due.
Kiva's portfolio staff will continue to follow up with YOSEFO about the expected past due payment. In addition, Kiva's staff is currently reviewing the results of a recent borrower verification exercise at the institution. Borrower verification entails interviewing a random sample of 10 Kiva borrowers from the same field partner to help ensure the information on the ground matches the information on Kiva’s website. To accomplish this, Kiva verifies the identity of the borrower, the disbursement date, the loan amount, the loan term, the loan usage and the repayment information.
We will keep this page updated in the coming months as new information becomes available about wires received and/or the outcome of the borrower verification.
Update: August 30, 2010
YOSEFO's wire has been received and funds have been applied to lender accounts.
Update: August 23, 2010
YOSEFO's delinquency rate increased to 46.83% on August 1st, 2010. Since that date, YOSEFO has been delinquent in remitting funds to Kiva.
Portfolio staff are continuing to follow up with YOSEFO, and hope to receive the expected payment soon. Once this payment has been received and distributed to Kiva lenders, YOSEFO's delinquency rate should fall to a rate that reflects the amount that borrowers have yet to repay.
Update: May 20, 2010
YOSEFO has made their due payment and has been unpaused accordingly.
Update: May 19, 2010
YOSEFO has been paused due to late payment
Update: February 18, 2010 YOSEFO has been unpaused as payment has been received.
Update: February 5, 2010
YOSEFO has been paused due to late payment.
Youth Self Employment Foundation (YOSEFO) is a Non Governmental Organization (NGO) registered in Tanzania under Societies Orginance, 1954. As of December 31, 2005, YOSEFO had 3,695 customers, and 67% of them women. YOSEFO uses solidarity methodology to deliver it's Financial Services, and also provides business skills training, technical skills training, and HIV/AIDS awareness.
YOSEFO can be contacted via email at altemiusm@yahoo.com or cemide@uccmail.co.tz