Sept 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 1002 individuals receiving loans in September, those two institutions impacted about 5010 lives.

Summary Statistics for
Tetla Financial Solutions (“Tetla”) Tetla Phakamani
Phakamani Foundation (“Phakamani”) Sept Sept
2010 2010
Number of group loans disbursed this month 96 100
Number of individual new borrowers 282 315
Number of individual repeat borrowers 220 185
Total number of individual borrowers 502 500
Amount disbursed this month (rand) 646,800 650,000
Amount disbursed since inception (rand) 19,476,400 5,693,500
Portfolio Size
Number of active groups 448 381
Number of active borrowers 2,358 1,905
Average number of borrowers per group 5.26 5.00
Average outstanding loan balance 847
Portfolio Quality
Repayment rate 99% 101%
Portfolio at risk (31-90 days) 1% 2.8%
Bad debts (91 – 365 days) 3% 1.7%
Number of field staff 18 23
Number of admin staff 4 4
Total number of staff 22 27
$1 Cdn = approx 6.7 Rand

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