Opportunity International- Wedco Ltd.
Approved to post Kiva loans from: Kenya
The Opportunity International Network is a global coalition of microfinance organizations which provide transformational microfinance services to over 1 million poor entrepreneurs in 28 countries. For over 35 years, Opportunity International has provided its clients with access to financial services, training and capital to expand their businesses and their lives. In order to meet the changing needs of the modern development world and to have an even greater, lasting impact on the entrepreneurial poor, Opportunity International adjusted its strategy in the year 2000 from the development of NGOs to the development of national-scale, transformational, formal financial institutions.
As a part of this effort, Opportunity International acquired Wedco Enterprise Development Limited and formed a new joint venture company, Opportunity International Wedco Limited (Opportunity), on July 3rd 2006. Working in three of Kenya’s eight provinces, Opportunity grew from 1,000 clients to over 7,000 clients in just one year. Opportunity’s commitment to the success of its clients has enabled it to grow rapidly in these provinces and will soon drive its expansion to other parts of the country.
Opportunity requires no cash collateral for its products, unlike many of its competitors. Borrowers are only required to save a minimum amount during the six-week training period to ensure they have the ability to repay their loan. Opportunity gives mostly group loans with the objective of strengthening communities among the poor and reducing the need for cash collateral.
Our vision is to be a nationwide agent of economic, spiritual and social transformation that is a global center of excellence.
Our mission is to empower the economically active poor through financial and related services, which attract and retain a growing client base.
We intend to achieve this through commitment to our core values of Faith, Integrity, Respect/Humility, and Stewardship in the services we provide our clients.
As a part of this effort, Opportunity International acquired Wedco Enterprise Development Limited and formed a new joint venture company, Opportunity International Wedco Limited (Opportunity), on July 3rd 2006. Working in three of Kenya’s eight provinces, Opportunity grew from 1,000 clients to over 7,000 clients in just one year. Opportunity’s commitment to the success of its clients has enabled it to grow rapidly in these provinces and will soon drive its expansion to other parts of the country.
Opportunity requires no cash collateral for its products, unlike many of its competitors. Borrowers are only required to save a minimum amount during the six-week training period to ensure they have the ability to repay their loan. Opportunity gives mostly group loans with the objective of strengthening communities among the poor and reducing the need for cash collateral.
Our vision is to be a nationwide agent of economic, spiritual and social transformation that is a global center of excellence.
Our mission is to empower the economically active poor through financial and related services, which attract and retain a growing client base.
We intend to achieve this through commitment to our core values of Faith, Integrity, Respect/Humility, and Stewardship in the services we provide our clients.
Repayment Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Start Date On Kiva | Dec 10, 2007 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $155,375 | $2,060,115,930 | |
Amount of raised Inactive loans | $0 | $299,975 | |
Number of raised Inactive loans | 0 | 329 | |
Amount of Paying Back Loans | $0 | $151,125,520 | |
Number of Paying Back Loans | 0 | 178,826 | |
Amount of Ended Loans | $155,375 | $1,863,396,330 | |
Number of Ended Loans | 56 | 2,516,664 | |
Delinquency Rate | 0.00% | 11.66% | |
Amount in Arrears | $0 | $10,619,673 | |
Outstanding Portfolio | ($0) | $91,107,381 | |
Number of Loans Delinquent | 0 | 34,759 | |
Default Rate | 0.00% | 1.83% | |
Amount of Ended Loans Defaulted | $0 | $34,066,795 | |
Number of Ended Loans Defaulted | 0 | 91,292 | |
Currency Exchange Loss Rate | 0.00% | 0.47% | |
Amount of Currency Exchange Loss | $0 | $12,915,654 | |
Refund Rate | 0.00% | 0.55% | |
Amount of Refunded Loans | $0 | $11,263,070 | |
Number of Refunded Loans | 0 | 9,868 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 58.93% | 78.51% | |
---|---|---|---|
Average Loan Size | $248 | $393 | |
Average Individual Loan Size | $0 | $585 | |
Average Group Loan Size | $2,775 | $1,913 | |
Average number of borrowers per group | 11.2 | 8.3 | |
Average GDP per capita (PPP) in local country | $1,800 | $5,592 | |
Average Loan Size / GDP per capita (PPP) | 13.79% | 7.03% | |
Average Time to Fund a Loan | 4.48 days | 9.13 days | |
Average Dollars Raised Per Day Per Loan | $55.36 | $43.03 | |
Average Loan Term | 5.93 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 58 | 1,228,233 | |
---|---|---|---|
Journaling Rate | 94.64% | 41.93% | |
Average Number of Comments Per Journal | 0.95 | 0.02 | |
Average Number of Recommendations Per Journal | 41.53 | 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 | 36.00% PY | 27.12% PY | |
---|---|---|---|---|
Profitability (return on assets) | N/A | 0.5% | -1.71% | |
Average Loan Size (% of per capita income) | N/A | 56.00% | 0.00% |
Country Fast Facts
- Country:
- Kenya
- Capital:
- Nairobi
- Official Language:
- English (official), Kiswahili (official)
- Population:
- 45,010,056
- Avg Annual Income:
- $1,800
- Labor Force:
- agriculture: 75%, industry and services: 25%
- Population Below Poverty Line:
- 43.40%
- Literacy Rate:
- 87.40%
- Infant Mortality Rate (per 1000):
- 40.71 deaths
- Life Expectancy:
- 63.52 years