Fundo De Desenvolvimento Mulher (FDM), a partner of Save the Children
Status Update on FDM by Kiva Staff on August 6, 2009:FDM ‘s partnership with Kiva was closed in August 2009 on a mutually agreeable basis. After some difficulty getting money out of Mozambique to the United States, FDM successfully repaid all funds back to Kiva lenders.
FDM, Sarl was established as a Group Guaranteed Lending and Savings (GGLS) program in the Gaza province. The program offered individual loans to groups of two or more individuals who guarantee one another’s repayment and individuals loan with collateral guarantees (Furniture, house assets).
Clients were also given access to a group savings account. Since the inception of the program it has continually refined its loan product and methodology to better meet its clients’ needs and ensure sustainability. Difficulties encountered in the beginning were overcome, and the program has learned from these experiences. Today, FDM is a strong , currently reaching some 2.121 clients (81% female) in rural and per-urban areas in Gaza and Maputo province with an outstanding portfolio of $378.674 Demand is heavy for the initial 16 week individual loan of 640.000,00 or 1,800,000 Meticais ($30 or $84) her group loan and 3.000.000 or 6.000.000 ($120 or $240) for individual loan, and most borrowers continue in the program to take larger loans that increase each cycle.
ASSESSMENT
The IMF is currently separated from Save the Children and is becoming a sustainable Mozambican institution. This was an extremely crucial period for FDM, as planning, training, and scale-up occurred on three fronts: MFI organizational development (e.g., staffing, board development, organizational culture, etc.); systems development and installation (e.g., tracking portfolio quality, client retention, and sustainability indicators); and programmatic strengthening (e.g., loan officer skills building, strengthening group formation, implementing expansion plans, etc.).
Now after 2 ½ years FDM has two external audits, the Board of Directors has regular meetings, and FDM is becoming operationally self-sustentable and increasing its performance. FDM can be reached via email at: admin@fdm-mz.org
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Aug 2, 2007 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $112,050 | $2,050,658,945 | |
| Amount of raised Inactive loans | $0 | $325,375 | |
| Number of raised Inactive loans | 0 | 180 | |
| Amount of Paying Back Loans | $0 | $153,895,625 | |
| Number of Paying Back Loans | 0 | 184,697 | |
| Amount of Ended Loans | $112,050 | $1,853,611,570 | |
| Number of Ended Loans | 294 | 2,498,413 | |
| Delinquency Rate | 0.00% | 11.60% | |
| Amount in Arrears | $0 | $10,755,116 | |
| Outstanding Portfolio | $0 | $92,708,290 | |
| Number of Loans Delinquent | 0 | 37,713 | |
| Default Rate | 0.00% | 1.82% | |
| Amount of Ended Loans Defaulted | $0 | $33,754,139 | |
| Number of Ended Loans Defaulted | 0 | 89,048 | |
| Currency Exchange Loss Rate | 0.00% | 0.47% | |
| Amount of Currency Exchange Loss | $0 | $12,742,203 | |
| Refund Rate | 0.31% | 0.53% | |
| Amount of Refunded Loans | $350 | $10,938,345 | |
| Number of Refunded Loans | 2 | 9,670 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 78.67% | 78.48% | |
|---|---|---|---|
| Average Loan Size | $369 | $393 | |
| Average Individual Loan Size | $379 | $585 | |
| Average Group Loan Size | $440 | $1,911 | |
| Average number of borrowers per group | 2.8 | 8.3 | |
| Average GDP per capita (PPP) in local country | $1,200 | $5,592 | |
| Average Loan Size / GDP per capita (PPP) | 30.71% | 7.03% | |
| Average Time to Fund a Loan | 0.17 days | 9.12 days | |
| Average Dollars Raised Per Day Per Loan | $2,125.23 | $43.08 | |
| Average Loan Term | 4.86 months | 11.5 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 107 | 1,222,764 | |
|---|---|---|---|
| Journaling Rate | 32.31% | 41.92% | |
| Average Number of Comments Per Journal | 0.73 | 0.02 | |
| Average Number of Recommendations Per Journal | 7.61 | 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 | 68.00% PY | 26.44% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | N/A | 2.1% | -1.70% | |
| Average Loan Size (% of per capita income) | N/A | 86.00% | 0.00% |
Country Fast Facts
- Country:
- Mozambique
- Capital:
- Maputo
- Official Language:
- Emakhuwa 25.3%, Portuguese (official) 10.7%, Xichangana 10.3%, Cisena 7.5%, Elomwe 7%, Echuwabo 5.1%
- Population:
- 24,692,144
- Avg Annual Income:
- $1,200
- Labor Force:
- agriculture: 81%, industry: 6%, services: 13%
- Population Below Poverty Line:
- 52.00%
- Literacy Rate:
- 56.10%
- Infant Mortality Rate (per 1000):
- 72.42 deaths
- Life Expectancy:
- 52.6 years