October 2011 Update for 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 1794 individuals receiving loans in October, those two institutions impacted about 8970 lives.

Summary Statistics for
Tetla Financial Solutions (“Tetla”) Tetla Phakamani
Phakamani Foundation (“Phakamani”) October October
2011 2011
Outreach
Number of group loans disbursed this month 165 149
Number of individual new borrowers 469 365
Number of individual repeat borrowers 397 380
Total number of individual borrowers 866 745
Disbursements
Amount disbursed this month (rand) 1,184,100 907,000
Amount disbursed since inception (rand) 30,454,800 16,904,300
Portfolio Size
Number of active groups 678 1019
Number of active borrowers 3,562 5,095
Average number of borrowers per group 5.25 5.00
Average outstanding loan balance 898 741
Portfolio Quality
Repayment rate 90% 98%
Portfolio at risk (31-90 days) 0% 1%
Bad debts (91 – 365 days) 1% 1%
Productivity
Number of field staff 19 42
Number of admin staff 5 7
Total number of staff 24 49

$1 Cdn = approx 7.10 Rand 06-Feb-12

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