February 2011 update from Tetla Financial Solutions and Phakamani Foundation

Each month we receive detailed financial reports from the two microfinance institutions we support in South Africa: Tetla Financial Solutions, operating in the townships around Cape Town, and Phakamani Foundation, operating in the townships around White River (about 4 hours drive east of Johannesburg). Each loan typically affects more than 5 lives for the better. With 909 individuals receiving loans in February, those two institutions impacted about 4545 lives.

Summary Statistics for    
Tetla Financial Solutions (“Tetla”) Tetla  Phakamani
Phakamani Foundation (“Phakamani”) February February
  2011 2011
     
Outreach    
Number of group loans disbursed this month 74 104
Number of individual new borrowers 56 255 
Number of individual repeat borrowers 185 265 
Total number of individual borrowers 389 520 
     
Disbursements    
Amount disbursed this month (rand) 548,300 617,400
Amount disbursed since inception (rand) 22,276,000 8,751,400
     
Portfolio Size    
Number of active groups 370 484
Number of active borrowers 1956 2420 
Average number of borrowers per group 5.29 5.00
Average outstanding loan balance 903 767
     
Portfolio Quality    
Repayment rate 96% 97%
Portfolio at risk (31-90 days) 2% 4.7%
Bad debts (91 – 365 days) 4% 1.1%
     
Productivity    
Number of field staff 15 33
Number of admin staff 4 4
Total number of staff 19 37
     
$1 Cdn = approx 6.95 Rand    
07-Apr-11    

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