New Update

We now have 51 groups (1 is still in training) with over 450 members in four townships areas; Jeffreys Bay; Thornhill, Humansdorp and Hankey. Three of the groups have graduated and operate on their own.As of April, members’ equity (savings plus interest charged on loans) reached R 266,077. Return on savings is 22%. The potential level of loan taking may seem limited given the average amount of savings per member to date (R 409); but the true picture is revealed by looking at capital turnover (cumulative value of loans disbursed in relation to savings). For example, though cumulative savings is R 217,070 as of April 2010, the total value of loans disbursed to date amounts to R 363,035. (read more)

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2010/09/08 | Posted in: 2010 | Comments Closed
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