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Kenya

FINANCIAL SERVICES TO SECURE A HOPEFUL FUTURE

WE AIM TO CHANGE THE LIVES OF KENYANS LIVING IN RURAL AND REMOTE AREAS. BY PROVIDING SMALL LOANS AND OTHER FINANCIAL SERVICES TO BUSINESS-MINDED PEOPLE, WE ENABLE THEM TO BUILD THE FUTURE THEY WANT. WE WORK CLOSELY WITH WORLD VISION TO OFFER INTEGRATED SOLUTIONS FOR THOSE LIVING IN POVERTY.

Our integration with World Vision Kenya presents us with a unique market. We work in areas where people have already benefited from World Vision development programmes but are unaware of the benefits of microfinance. To these people, we provide both financial services and business training to help our clients achieve success.

We began our work in Kenya in 2001. Our services are intended to help our clients increase their household income. We offer small loans to increase stock, diversity business or purchase the equipment they need to drive business growth. Our microfinance products in Kenya have helped to transform lives, keep children in school and provide medicine and healthcare needed to live full lives.

Working in Kenya

Microfinance was formally recognised in Kenya in 2006 when a bill was passed into law. The regulation was created to force out corrupt credit schemes and stop people exploiting the poor. Political leadership has since greatly influenced the industry. Budget planners are shifting focus from donor funding to begin demanding economic growth from the microfinance sector. So far, around 30% of Kenya’s population has access to financial services.

Kenya’s new constitution favours a devolved government where public service is decentralised and brought closer to Kenyans. This allows for greater access to financial services by communities in remote locations. This further translates to reduced operating costs for our microfinance institution in Kenya. We have been working in partnership with World Vision to assist financially vulnerable members of the communities, and in particular, targeting our help towards widows and orphans.

Awards and Ratings

  • BB+ Comprehensive Social Rating from Microfinanza, 2009
  • B- Microfinance Rating from Microfinanza, 2009
  • BBB+ Microfinance Rating from Microfinanza, 2009
  • Microfinance Transparency Certificate, 2009


Future Innovation

We are motivated to provide a better future for the children of our clients. We are exploring new innovations that will develop our MFI as an industry leader in Kenya. Some of these innovations include:

  • Enhancement of mobile banking, now interfaced with the T24 core banking system
  • Development of new products for salaried customers
  • Implementation of corporate social responsibility initiative that is relevant to
    our mission

Client Success Story

Kadii's farm was badly affected by drought and her crops failed.

Even though Kadii experienced an initial setback, with support from our MFI, she managed to stabilise her farm and recently had a productive harvest. Kadii got herself back on her feet and can now afford to send her children to school.

Management Details

MFI Structure

Peter Mugendi joined our MFI mid 2007 as Operations Director. Prior to that, Peter was Branch Manager at K-Rep Bank, a leading microfinance bank in Africa, and an African Regional Rigor Analyst at Barclays Bank.

Our MFI has a board of directors of seven members, a leadership team of five and a management team of seven that oversees the work of the MFI.


 

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