HOPE DRC, a HOPE International institution
Approved to post Kiva loans from: Congo (DRC)
Status update – April, 15, 2015
Since HOPE DRC is focused on its lending operations, and is not at this time using Kiva funding, Kiva and HOPE DRC have decided to end their partnership. We thank HOPE DRC for years of partnership, and remain open to resuming fundraising for HOPE DRC in the future.
Status Update - February 28, 2013
HOPE International recently made the difficult decision to close its branch office in Kinshasa and focus its lending activity in a different geographic area in DRC. As you may know, DRC is a very difficult operating environment due to political instability, corruption and ongoing armed conflict in the East. However, HOPE DRC and Kiva both remain committed to continuing microfinance operations in the country and serving the critical needs of borrowers for years to come.
Because HOPE International no longer operates in Kinshasa, the organization has repaid Kiva lenders for outstanding loans made to Kinshasa borrowers. HOPE DRC will continue to post loans to Kiva from its Lumumbashi branch office.
Partner Description:
HOPE International has been providing small business loans and savings services to thousands of entrepreneurs in DRC since 2004. It is also one of Kiva’s earliest field partners, aiming to expand access to financial services to the 99% who live without it.
In a country where there are only 650,000 bank accounts among a population of 66.7 million, HOPE DRC targets small business owners who can use loans to increase their inventories or invest in assets that have the potential to increase their incomes.
Through a community bank and group lending structure, HOPE DRC reaches thousands of clients, 80% of whom are female, with loans averaging $431. Funds from Kiva lenders play a major role in expanding access to affordable, flexible capital for micro-enterprises.
Nono (far left) of the Bokoli Plus Group used her loan to buy sacks of sugar and milk to sell at the market. The 12 other members of her borrower group also sell food.
The organization’s operations are largely shaped by the country’s history. Still recovering from a five-year civil war that ended in 2003, many people in DRC are still affected by violence, corruption, and economic instability. While the country is rich in natural resources, wealth in concentrated in the hands of a few.
Today, 95.2% of DRC’s population lives on less than US$2 a day, and 81.7% qualifes as underemployed. As a result, many workers have been pushed into the informal economy, increasing demand for financial services on a small, customized scale.
Since HOPE DRC is focused on its lending operations, and is not at this time using Kiva funding, Kiva and HOPE DRC have decided to end their partnership. We thank HOPE DRC for years of partnership, and remain open to resuming fundraising for HOPE DRC in the future.
Status Update - February 28, 2013
HOPE International recently made the difficult decision to close its branch office in Kinshasa and focus its lending activity in a different geographic area in DRC. As you may know, DRC is a very difficult operating environment due to political instability, corruption and ongoing armed conflict in the East. However, HOPE DRC and Kiva both remain committed to continuing microfinance operations in the country and serving the critical needs of borrowers for years to come.
Because HOPE International no longer operates in Kinshasa, the organization has repaid Kiva lenders for outstanding loans made to Kinshasa borrowers. HOPE DRC will continue to post loans to Kiva from its Lumumbashi branch office.
Partner Description:
HOPE International has been providing small business loans and savings services to thousands of entrepreneurs in DRC since 2004. It is also one of Kiva’s earliest field partners, aiming to expand access to financial services to the 99% who live without it.
In a country where there are only 650,000 bank accounts among a population of 66.7 million, HOPE DRC targets small business owners who can use loans to increase their inventories or invest in assets that have the potential to increase their incomes.
Through a community bank and group lending structure, HOPE DRC reaches thousands of clients, 80% of whom are female, with loans averaging $431. Funds from Kiva lenders play a major role in expanding access to affordable, flexible capital for micro-enterprises.
Nono (far left) of the Bokoli Plus Group used her loan to buy sacks of sugar and milk to sell at the market. The 12 other members of her borrower group also sell food.
The organization’s operations are largely shaped by the country’s history. Still recovering from a five-year civil war that ended in 2003, many people in DRC are still affected by violence, corruption, and economic instability. While the country is rich in natural resources, wealth in concentrated in the hands of a few.
Today, 95.2% of DRC’s population lives on less than US$2 a day, and 81.7% qualifes as underemployed. As a result, many workers have been pushed into the informal economy, increasing demand for financial services on a small, customized scale.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Feb 21, 2007 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $2,236,075 | $2,048,143,210 | |
| Amount of raised Inactive loans | $0 | $311,475 | |
| Number of raised Inactive loans | 0 | 168 | |
| Amount of Paying Back Loans | $0 | $154,681,835 | |
| Number of Paying Back Loans | 0 | 186,787 | |
| Amount of Ended Loans | $2,236,075 | $1,852,263,720 | |
| Number of Ended Loans | 617 | 2,492,622 | |
| Delinquency Rate | 0.00% | 11.93% | |
| Amount in Arrears | $0 | $11,124,899 | |
| Outstanding Portfolio | $0 | $93,242,442 | |
| Number of Loans Delinquent | 0 | 53,501 | |
| Default Rate | 0.07% | 1.82% | |
| Amount of Ended Loans Defaulted | $1,598 | $33,752,082 | |
| Number of Ended Loans Defaulted | 2 | 89,004 | |
| Currency Exchange Loss Rate | 0.00% | 0.47% | |
| Amount of Currency Exchange Loss | $0 | $12,734,622 | |
| Refund Rate | 0.34% | 0.53% | |
| Amount of Refunded Loans | $7,575 | $10,938,345 | |
| Number of Refunded Loans | 2 | 9,670 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 63.29% | 78.48% | |
|---|---|---|---|
| Average Loan Size | $186 | $393 | |
| Average Individual Loan Size | $766 | $586 | |
| Average Group Loan Size | $3,849 | $1,910 | |
| Average number of borrowers per group | 20.9 | 8.3 | |
| Average GDP per capita (PPP) in local country | $700 | $5,593 | |
| Average Loan Size / GDP per capita (PPP) | 26.63% | 7.03% | |
| Average Time to Fund a Loan | 2.76 days | 9.12 days | |
| Average Dollars Raised Per Day Per Loan | $67.49 | $43.08 | |
| Average Loan Term | 3.64 months | 11.5 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 276 | 1,222,149 | |
|---|---|---|---|
| Journaling Rate | 35.49% | 41.92% | |
| Average Number of Comments Per Journal | 0.30 | 0.02 | |
| Average Number of Recommendations Per Journal | 5.35 | 0.55 |
Borrowing Cost Comparison (based on 2009 data)
| This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
| Average Cost to Borrower | N/A | 56.00% PY | 26.44% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | N/A | 1.1% | -1.32% | |
| Average Loan Size (% of per capita income) | N/A | 15.00% | 0.00% |
Country Fast Facts
- Country:
- Congo (DRC)
- Capital:
- Kinshasa
- Official Language:
- Population:
- 79,375,136
- Avg Annual Income:
- $700
- Labor Force:
- N/A
- Population Below Poverty Line:
- 63%
- Literacy Rate:
- 63.8%
- Infant Mortality Rate (per 1000):
- 71.47 deaths
- Life Expectancy:
- 56.93 years