Victoria Finance Plc
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Partner description:
Victoria Finance Plc is a licensed microfinance institution founded in 2009 with the main mission of providing loans to underserved micro-entrepreneurs, small-holder farmers and households in Tanzania. The organization offers tailored business, consumer, agricultural and renewable energy products to these target client segments. Access to these loans enables the underserved communities to grow their businesses, improve agricultural productivity and overall quality of life.
A unique lending approach:
Victoria Finance uses Kiva funding to provide agricultural, business and renewable energy loans to small-holder farmers, micro-entrepreneurs and households through the individual and group lending methodology. The group lending approach enables access to capital for micro-entrepreneurs and households who are excluded from mainstream financial services due to lack of collateral.
Repayment Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Start Date On Kiva | Feb 16, 2023 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $768,600 | $2,078,021,835 | |
| Amount of raised Inactive loans | $0 | $652,195 | |
| Number of raised Inactive loans | 0 | 142 | |
| Amount of Paying Back Loans | $306,675 | $154,946,905 | |
| Number of Paying Back Loans | 209 | 186,794 | |
| Amount of Ended Loans | $461,925 | $1,875,373,370 | |
| Number of Ended Loans | 332 | 2,532,304 | |
| Delinquency Rate | 7.58% | 13.78% | |
| Amount in Arrears | $19,116 | $13,181,135 | |
| Outstanding Portfolio | $128,215 | $95,667,993 | |
| Number of Loans Delinquent | 34 | 81,734 | |
| Default Rate | 0.00% | 1.82% | |
| Amount of Ended Loans Defaulted | $0 | $34,200,889 | |
| Number of Ended Loans Defaulted | 0 | 91,680 | |
| Currency Exchange Loss Rate | 1.95% | 0.47% | |
| Amount of Currency Exchange Loss | $17,062 | $13,051,174 | |
| Refund Rate | 0.00% | 0.54% | |
| Amount of Refunded Loans | $0 | $11,296,185 | |
| Number of Refunded Loans | 0 | 9,885 |
Loan Characteristics On Kiva
| This Lending Partner | All Kiva Partners | ||
| Loans to Women Borrowers | 43.07% | 78.54% | |
|---|---|---|---|
| Average Loan Size | $769 | $393 | |
| Average Individual Loan Size | $1,126 | $585 | |
| Average Group Loan Size | $2,673 | $1,916 | |
| Average number of borrowers per group | 5.4 | 8.3 | |
| Average GDP per capita (PPP) in local country | $1,900 | $5,592 | |
| Average Loan Size / GDP per capita (PPP) | 40.49% | 7.04% | |
| Average Time to Fund a Loan | 16.16 days | 9.16 days | |
| Average Dollars Raised Per Day Per Loan | $47.60 | $42.94 | |
| Average Loan Term | 8.56 months | 11.5 months |
Journaling Performance on Kiva
| This Lending Partner | All Kiva Partners | ||
| Total Journals | 0 | 1,236,682 | |
|---|---|---|---|
| Journaling Rate | 0.00% | 41.85% | |
| Average Number of Comments Per Journal | 0.00 | 0.02 | |
| Average Number of Recommendations Per Journal | 0.00 | 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 | 21.00% PY | 27.16% PY | |
|---|---|---|---|---|
| Profitability (return on assets) | -2.98% | 0.2% | -1.90% | |
| Average Loan Size (% of per capita income) | N/A | 134.00% | 0.00% |
Country Fast Facts
- Country:
- Tanzania
- Capital:
- Dodoma
- Official Language:
- Kiswahili (official), Kiunguja, English (official), Arabic, many local languages
- Population:
- 49,639,138
- Avg Annual Income:
- $1,900
- Labor Force:
- agriculture: 80%, industry and services: 20%
- Population Below Poverty Line:
- 28.20%
- Literacy Rate:
- 70.60%
- Infant Mortality Rate (per 1000):
- 43.47 deaths
- Life Expectancy:
- 60.07 years
Lending Partner Staff
Edgar KilasaraJulius Mcharo
BAHATI MWAKAJILA
Vitalis Nyakunga
Noel Sumbe