Oct/Nov/Dec 2010 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 976 individuals receiving loans in October those two institutions impacted about 4880 lives; with 1202 in November about 6010 lives; and 737 in December about 3685 lives. 

Summary Statistics for                                                                                     
Tetla Financial Solutions (“Tetla”) Tetla Phakamani Tetla Phakamani Tetla Phakamani
Phakamani Foundation (“Phakamani”) October October November November December December
  2010 2010 2010 2010 2010 2010
                                                             
Outreach            
Number of group loans disbursed this month 75 115  93  143  70  73 
Number of individual new borrowers 200 450  174  510  42  15 
Number of individual repeat borrowers 201 125  313  205  330  350 
Total number of individual borrowers 401 575  487  715  372  365 
         
Disbursements            
Amount disbursed this month (rand) 561,600 666,300  678,600  838,000  643,800  526,300 
Amount disbursed since inception (rand) 20,038,000 6,359,800  20,716,600  7,197,800  21,360,400  7,724,100 
             
Portfolio Size            
Number of active groups 441 416  431  480  395  489 
Number of active borrowers 2328 2080  2267  2400  2050  2445 
Average number of borrowers per group 5.28 5.26  5.19 
Average outstanding loan balance 794 871  842  886  945  843 
             
Portfolio Quality            
Repayment rate 98%  98%  98%  98%  95%  87%
Portfolio at risk (31-90 days) 1%  1.4%  1%  1.3%  1%  2.4%
Bad debts (91 – 365 days) 3%  1.8%  3%  1%  3%   0.5%
             
Productivity            
Number of field staff 18  28  17  32  15  34 
Number of admin staff
Total number of staff 22  32  21  36  19  38 
             
$1 Cdn = 7.08 Rand
                         09-Mar-11
           

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