VisionFund Kenya has been supporting clients since 2001.
Since then, we have grown to serve 14,500 active borrowers and impact 59,400 children and 18,400 jobs.
World Vision originally began its microfinance and savings programme in 1993, but quickly realised the global need for microfinance and the immense role it played in reducing poverty. VisionFund International was then founded in 2003 to manage its network of affiliated microfinance organisations (MFIs).
Since then, VisionFund International has been lending to people in need of financial services, helping them to start or grow
sustainable businesses. Our clients use the income earned to build a better
future for their children, for example, through having clean water, nutritious
food, education and healthcare.
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 from exploiting the poor. Political leadership has since greatly influenced the industry. Budget planners are shifting focus from donor funding to 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.
Philip Ochola is the CEO of VisionFund Kenya.
Our MFI has a board of directors consisting of seven members, a leadership team of five and a management team of fourteen, including branch managers who oversee the work of the MFI.