July/August updates 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 949 individuals receiving loans in July, those two institutions impacted about 4745 lives; with 1022 loans in August, about 5110 lives.

Summary Statistics for
Tetla Financial Solutions (“Tetla”) Tetla Phakamani Tetla Phakamani
Phakamani Foundation (“Phakamani”) July July August August
2010 2010 2010 2010
Outreach
Number of group loans disbursed this month 106 77 102 93
Number of individual new borrowers 353 230 292 255
Number of individual repeat borrowers 211 155 245 210
Total number of individual borrowers 564 385 537 485
Disbursements
Amount disbursed this month (rand) 703,700 437,808 671,700 517,092
Amount disbursed since inception (rand) 18,003,400 4,525,908 18,829,600 5,043,000
Portfolio Size
Number of active groups 393 287 422 352
Number of active borrowers 2,091 1,435 2,223 1760
Average number of borrowers per group 5.32 5.00 5.27 5
Average outstanding loan balance 909 775 894 763
Portfolio Quality
Repayment rate 98% 102% 98% 97%
Portfolio at risk (31-90 days) 2% 6% 1% 6%
Bad debts (91 – 365 days) 2% 6% 3% 6%
Productivity
Number of field staff 19 23 18 23
Number of admin staff 4 4 4 4
Total number of staff 23 27 22 27
$1 Cdn = approx 7 Rand


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