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Kenya Women Finance Trust (KWFT)

KWFT Microfinance Bank’s purpose is to help women at the bottom of the pyramid. Since it began three decades ago, it has been on a growth path. The bank has remained faithful to its purpose to transform their customers socially and economically.

From a humble beginning of two offices in Kilifi and Karatina, KWFT has spread and has over 245 offices spread out across 45 counties. In 2008 the microfinance bank became a subsidiary of Kenya Women Holdings Company and two years later received the license from the regulator allowing the deposit taking function.

“To date we remain keen on continuously attracting micro clients into the KWFT fray because, despite increase in number of financial services providers over the years, a significant number of the population is still unbanked.” Noted Mr. Githaiga, Managing Director, KWFT.

Mr. Githaiga has over 20 years of experience, among his notable accomplishments was guiding the institution’s successful transformation to a deposit taking microfinance.

The local financial sector has been attracting diversity and embracing innovation, with the latest entrants being financial technology service providers. Mr. Githaiga argues that the existing service providers, have mastered functionality to their respective demographics and the coexistence between different financial services providers is more complementary than competitive.

“To date we remain keen on continuously attracting micro clients into the KWFT fray because, despite increase in number of financial services providers over the years, a significant number of the population is still unbanked.” Noted Mr. Githaiga, Managing Director, KWFT.

Mr. Githaiga has over 20 years of experience, among his notable accomplishments was guiding the institution’s successful transformation to a deposit taking microfinance.

The local financial sector has been attracting diversity and embracing innovation, with the latest entrants being financial technology service providers. Mr. Githaiga argues that the existing service providers, have mastered functionality to their respective demographics and the coexistence between different financial services providers is more complementary than competitive.

“For instance, the local fin techs typically disburse small amounts, at higher interests for very short durations and most of their target customers seek their services for consumption purposes. Similarly, microfinance banks serve the low income and micro borrowers, as the banking fraternity has its own client base.” He says.

Mobile money proliferation has aided in advancing financial literacy especially in rural Kenya and the microfinance industry believes there is immense opportunity in the micro lending sector.

Mr. Githaiga affirms that the shareholders have provided significantly leeway for product innovation and investment in social impact products that would de-incentivize one whose sole motive is profit. The lender has received both local and international recognition, as the best microfinance within its space.