XTXFX Business Plan — Appendix B: Unit Economics and Volume Schedules
Per-loan unit economics and the monthly origination volume schedules underpinning the five-year projection.
Appendix B: Unit Economics and Volume Schedules
Jump to section
- Overview & contents
- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. Market Context and Opportunity
- 3. Regulatory Framework and NCR Registration
- 4. Products and Pricing
- 5. SWOT and Competitive Position
- 6. Credit Policy and Risk Management
- 7. Technology and Operations
- 8. Go-to-Market
- 9. Governance and Team
- 10. Financial Plan
- 11. Funding Structure and Capital
- 12. Break-Even and Credit Sensitivity
- 13. Sensitivity and Scenario Analysis
- 14. Risk Management
- 15. Implementation Roadmap
- 16. Investor Returns and Exit
- 17. Key Performance Indicators
- 18. Key Assumptions
- 19. Conclusion
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Unit Economics and Volume Schedules
- C. Appendix C: Funding and Debt Schedules
- D. Appendix D: NCR Registration Checklist
- E. Appendix E: Risk Register
- F. Appendix F: Glossary
- B.1 Product unit economics
- B.2 Volume and mix schedule
- B.3 Cost schedule
B.1 Product unit economics
|
Component |
XTXFX Flex |
XTXFX Term |
|---|---|---|
|
Principal |
R3 500 |
R18 000 |
|
Term, months |
4 |
15 |
|
NCA category |
Short-term credit transaction |
Unsecured credit transaction |
|
Interest rate |
4.5% a month |
23.0% a year on a reducing balance |
|
Regulated ceiling |
5% / 3% a month |
24.85% a year |
|
Interest income |
R394 |
R2 846 |
|
Initiation fee |
R415 |
R1 050 |
|
Service fees |
R240 |
R900 |
|
Credit life commission |
— |
R243 |
|
Total lifetime revenue |
R1 049 |
R5 039 |
|
As a share of principal |
30.0% |
28.0% |
|
Mature write-off |
13.0% of principal |
10.5% of principal |
|
Strategic role |
Acquisition and data generation |
The profit engine |
B.2 Volume and mix schedule
|
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|---|---|---|---|---|---|
|
Loans disbursed |
6 550 |
20 600 |
39 200 |
57 500 |
75 000 |
|
Flex loans |
6 000 |
18 000 |
33 001 |
46 999 |
60 000 |
|
Term loans |
550 |
2 600 |
6 199 |
10 501 |
15 000 |
|
Term share by number |
8.4% |
12.6% |
15.8% |
18.3% |
20.0% |
|
Value disbursed, R million |
30.9 |
109.8 |
227.1 |
353.5 |
480.0 |
|
Average loan size |
R4 718 |
R5 330 |
R5 793 |
R6 148 |
R6 400 |
|
Term share by value |
32.0% |
42.6% |
49.1% |
53.5% |
56.3% |
|
New customer share |
74% |
58% |
44% |
34% |
28% |
B.3 Cost schedule
|
R million |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Customer acquisition |
1.8 |
4.5 |
6.6 |
7.4 |
8.0 |
|
Direct cost to serve |
0.5 |
1.6 |
3.1 |
4.6 |
6.0 |
|
External collections |
0.4 |
1.3 |
2.7 |
4.2 |
5.8 |
|
Total variable costs |
2.7 |
7.5 |
12.4 |
16.3 |
19.7 |
|
Fixed operating costs |
11.0 |
16.2 |
21.6 |
26.2 |
30.0 |
|
Depreciation |
1.3 |
1.3 |
1.3 |
1.3 |
1.3 |
|
Total operating costs |
15.0 |
25.0 |
35.3 |
43.8 |
51.0 |
|
Cost per loan disbursed |
R2 296 |
R1 214 |
R901 |
R761 |
R681 |