Mozambikes
Approved to post Kiva loans from: Mozambique
Status update - May 03, 2018
Kiva and Mozambikes have agreed to end their partnership. Mozambikes has fully paid its outstanding balance to Kiva, and these funds have been distributed to lenders. Kiva thanks Mozambikes for its collaboration and continued commitment to providing high quality bicycles to low-income communities in Mozambique.
Partner Description:
Mozambikes is a for-profit social enterprise headquartered in Maputo, Mozambique. The organization imports bicycle parts and assembles them locally in Maputo, using local labor.
The organization hopes to provide Mozambicans living near the poverty line with access to bicycles, positively affecting both the financial livelihoods and quality of life of their users. Bikes can help improve personal health, increase access to education, as well as increase income levels and business efficiency.
A unique lending approach:
Mozambikes currently focuses on selling bicycles to NGO’s and private sector companies, who then donate bikes to their communities, employees, customers or other stakeholders. Each bike is designed to be extremely robust and appropriate for rural conditions, and sells for $130. Companies can also elect to just purchase advertising space on the bicycles, and let Mozambikes sell them into the rural market at the reduced rate of $40.
Bicycles have a positive affect on the professional and personal lives of users-- from decreasing commute time, to becoming a tool for entrepreneurial activity, to increasing access to crucial services like health clinics.
Kiva funding will allow Mozambikes to expand their clientele, and will provide a financing option for bikes for Mozambicans living near the poverty line. Each loan will either be for an individual bicycle, or a bicycle and trailer, at a flat interest rate of 5%. With Kiva’s support, Mozambikes can unlock a new segment of low-income residents in Mozambique who can benefit from a bike.
Kiva and Mozambikes have agreed to end their partnership. Mozambikes has fully paid its outstanding balance to Kiva, and these funds have been distributed to lenders. Kiva thanks Mozambikes for its collaboration and continued commitment to providing high quality bicycles to low-income communities in Mozambique.
Partner Description:
Mozambikes is a for-profit social enterprise headquartered in Maputo, Mozambique. The organization imports bicycle parts and assembles them locally in Maputo, using local labor.
The organization hopes to provide Mozambicans living near the poverty line with access to bicycles, positively affecting both the financial livelihoods and quality of life of their users. Bikes can help improve personal health, increase access to education, as well as increase income levels and business efficiency.
A unique lending approach:
Mozambikes currently focuses on selling bicycles to NGO’s and private sector companies, who then donate bikes to their communities, employees, customers or other stakeholders. Each bike is designed to be extremely robust and appropriate for rural conditions, and sells for $130. Companies can also elect to just purchase advertising space on the bicycles, and let Mozambikes sell them into the rural market at the reduced rate of $40.
Bicycles have a positive affect on the professional and personal lives of users-- from decreasing commute time, to becoming a tool for entrepreneurial activity, to increasing access to crucial services like health clinics.
Kiva funding will allow Mozambikes to expand their clientele, and will provide a financing option for bikes for Mozambicans living near the poverty line. Each loan will either be for an individual bicycle, or a bicycle and trailer, at a flat interest rate of 5%. With Kiva’s support, Mozambikes can unlock a new segment of low-income residents in Mozambique who can benefit from a bike.
Repayment Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Start Date On Kiva | Dec 3, 2015 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $3,575 | $2,061,041,065 | |
Amount of raised Inactive loans | $0 | $311,410 | |
Number of raised Inactive loans | 0 | 365 | |
Amount of Paying Back Loans | $0 | $151,019,205 | |
Number of Paying Back Loans | 0 | 179,653 | |
Amount of Ended Loans | $3,575 | $1,864,416,345 | |
Number of Ended Loans | 27 | 2,517,078 | |
Delinquency Rate | 0.00% | 11.65% | |
Amount in Arrears | $0 | $10,591,703 | |
Outstanding Portfolio | $0 | $90,885,235 | |
Number of Loans Delinquent | 0 | 34,499 | |
Default Rate | 0.00% | 1.83% | |
Amount of Ended Loans Defaulted | $0 | $34,067,325 | |
Number of Ended Loans Defaulted | 0 | 91,294 | |
Currency Exchange Loss Rate | 15.25% | 0.47% | |
Amount of Currency Exchange Loss | $545 | $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 | 25.00% | 78.51% | |
---|---|---|---|
Average Loan Size | $108 | $393 | |
Average Individual Loan Size | $109 | $585 | |
Average Group Loan Size | $425 | $1,914 | |
Average number of borrowers per group | 4 | 8.3 | |
Average GDP per capita (PPP) in local country | $1,200 | $5,592 | |
Average Loan Size / GDP per capita (PPP) | 9.03% | 7.03% | |
Average Time to Fund a Loan | 0.07 days | 9.14 days | |
Average Dollars Raised Per Day Per Loan | $1,556.58 | $43.02 | |
Average Loan Term | 5.75 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 2 | 1,228,446 | |
---|---|---|---|
Journaling Rate | 7.41% | 41.93% | |
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 | 5% APR | 68.00% PY | 27.12% PY | |
---|---|---|---|---|
Profitability (return on assets) | -25% | 2.1% | -1.71% | |
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