List Of MFIS In Kenya

Microfinance institutions (MFIs) provide small scale loans to poor, low income people and communities, who are considered un-bankable. Microfinance, often referred to as microcredit, has made deep inroads into sustainable finance since Muhammed Yunus set up the Grameen Bank in 1983 to bank the un-bankable.

In this article Keweb.co tries to answer the question by publishing the full list of MFIS in Kenya

Below are the full List of MFIS In Kenya

1. Choice Microfinance Bank Limited

This is one of the most prominent community-based Microfinance Institutions in Kenya. The MFI has its headquarters in Rongai within Kajiado County.

Like with Faulu, you can deposit into Choice Microfinance Bank using M-Pesa Pay Bill. Their products and services include loans and savings accounts such as Faidikeni Fixed Deposit Account and Asset Mali Account.

Choice MFI started as a diaspora story that has evolved to become a local story as well.

It is a link of Kenyan Diaspora Investments to the local people’s need for small credit facilities to improve their livelihood and break the poverty cycles.

Microfinance Institutions in Kenya are famous due to their flexible loan repayment periods. Choice Microfinance Bank loans can be repaid within 3, 6, 9, and even 12 months.

Choice Microfinance Contacts:

Physical Address: Siron Place, Magadi Road, Ongata Rongai

P. O. Box 18263 – 00100
Nairobi, Kenya
Tel: +254 20 3882 206
Tel: +254 20 3882 207
Email: info@choicemfb.com

2. Faulu Kenya

This MFI also doubles up as a deposit-taking institution that lends loans in Kenya. It is one of the leading microloan lenders in Kenya with several branched scattered across the country. With Faulu, Kenyans can deposit using M-Pesa.

Faulu has an extensive network within Kenya and is well represented in every county from their headquarters in Nairobi to the far-away Isiolo County. You can use mobile banking, ATMs, and Faulu Agents to transact on Faulu Kenya.

Like most Microfinance Institutions in Kenya, Faulu loans are flexible, accessible, processed within 12 hours, and have affordable interest rates.

Faulu Contacts:

Head Quarters: Ngong Lane, Off Ngong Road
P O Box 60240 00200 City Square, Nairobi
Tel: +254 20 3877290 /3 /7; 3872183/4; 3867503
Fax: +254 3867504; 3874857
Email: customerservice@fauluKenya.com

3. SMEP Microfinance Bank

This MFI focuses on retail banking, group banking, asset financing, provision of credit to businesses, and church banking.

The National Council of Churches of Kenya (NCCK) is the largest SMEP shareholder, in addition to over 10,000 other shareholders. SMEP is among the microfinance institutions in Kenya that offer small loans, with Group loans as low as Ksh 5,000.

To get a SMEP Group loan, create or join a registered self-help group of fifteen or more members.

SMEP Contacts:

SMEP HEAD OFFICE: Kirichwa Road
P.O.BOX 64063-00620 NAIROBI, Kenya.
E-mail: info@smep.co.ke
Telephone: +254 20 2673327-8

4. KWFT: Kenya Women Microfinance Bank

This is one of the oldest and one of the most popular microfinance institutions in the country. It is also one of the biggest Deposit Taking Microfinance Institutions in Kenya and was licensed to operate as an MFI by the CBK on 31st March 2010.

KWFT has branches all over Kenya. The MFI has both savings and loan accounts that are open to all women and girls in Kenya.

KWFT has over 600,000 clients and over 231 branches in all counties in Kenya. As its name suggests, KWFT has a mission to empower women–and in the process, enrich the lives of entire families, communities, and the nation at large. Loan installments can be deposited to the bank using M-Pesa.

KWFT Contacts:

KWFT HEADQUARTERS: Akira house, Upper Hill Nairobi
P.O. Box 4179 -00506
Nairobi
Customer care number: 0703 067 700
Email: info@kwftdtm.com

5. Musoni Microfinance Institution

This is one of the youngest Microfinance Institutions in Kenya, having been registered in 2009. Mobile banking is at the core of Musoni–“M” stands for Mobile and Usoni is Swahili for “future”. Musoni has no hidden fees and does NOT charge registration fees.

It is, perhaps, the most “paper-less” of all Microfinance Institutions in Kenya. All Musoni funds are sent and received through mobile money.

Musoni loans are accessible and easy to apply for–loans are processed and available in your account within 72 hours. This MFI has many branches where you can chat with their staff, but all money transactions are done through mobile.

Musoni contacts:

Headquarters: Cape Office Park, Ring Road Kilimani
P.O. Box 25351 – 00100
Nairobi, Kenya
Tel: +254-020-2609355 / 2166007
Email: info@musoni.co.ke

6. Uwezo Microfinance Bank Ltd

Uwezo provides both savings and loan facilities. It facilitates wealth creation and better living for individuals, groups, and Small and Medium Enterprises (SMEs) in Kenya. This MFI offers short-term loans that are affordable and flexible.

Their farmer loans are perfect for those who are into smart farming in Kenya, cattle rearing, tomato farming, and other farming ventures.

Uwezo MFI Contacts:

Park Plaza Branch: Park Plaza, Ground floor, Moktar Daddah street.
Telephone: +254 20 221 2919
Mobile: 0752600619
Email: info@uwezodtm.com

7. Rafiki Microfinance Bank Ltd

This is one of the MFIs in Kenya that offer diaspora banking, savings, and loan products. Get affordable asset finance, loans for Chamas, and Saccos. Farmers can open a Kilimo Biashara Account to receive affordable farming loans.

Rafiki Microfinance Contacts:

Headquarters: Head office Biashara Street
P.O. Box 12755-00400
Telephone: 0730 170 500
Mobile: 0730 170 000

8. Century Microfinance Bank Ltd

This MFI specializes in providing credit to agri-businesses in Kenya. Like most Microfinance Institutions in Kenya, Century Bank also provides loans. You can save by regularly using M-Pesa to deposit into your Century Microfinance Bank account.

The MFI has a handful of branches around Nairobi, the central region, and western. The headquarters are in Gikomba, and other offices are located in Githurai.