- published: 03 Feb 2014
- views: 1098
Subscribe to our channel http://bit.ly/AJSubscribe Microfinance institutions appear to have defied the global economic slump as a lifeline out of poverty to those considered unbankable. Al Jazeera's Andrew Simmons reports from Kenya where the industry is changing the face of Kenya's largest slums. At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.' Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained. Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the...
The Lions Clubs of Kenya under the umbrella of District 411A have embarked on a Microfinance program with the Technical guidance of ASA Kenya. This program targets women from low income areas The need for a Microfinance program was necessitated by the fact that loans for microenterprise is prohibitive but the socio-economic demands on low income families is ever increasing. Lions Clubs have thus partnered with ASA Kenya who have specialized in financing the low income categories and provide the lowest interest rates in the Kenyan market in addition to the capacity enhancement provided to beneficiaries. Women are also going to be the key focus as it has been established that they support more households and have over 98% repayment rate
The EIB has a long track record in microfinance both within and outside the European Union. It supports leading microfinance providers (MFIs), fund providers and stakeholders in increasing access to funding for micro and small-sized enterprises. The Bank's most significant microfinance involvement is in Sub-Saharan Africa in countries such as Kenya where we aim at maximizing development impact in urban and rural regions as shown in this video.
The Central Bank of Kenya will, starting today launch a facility to any bank or microfinance institution facing liquidity problems through no fault of its own. Speaking to the press on Sunday governor Patrick Njoroge, reaffirmed that there was no need for panic withdrawals; as the issue with chase bank is not the case with all other banking institutions. Chase bank was placed under receivership on Thursday last week after its gross non-performing loans rose sharply in 2015 financial year. Watch KTN Live http://www.ktnkenya.tv/live Watch KTN News http://www.ktnnews.com Follow us on http://www.twitter.com/ktnkenya Like us on http://www.facebook.com/ktnkenya
Microfinance in Kenya consists of microfinance facilities and regulations in Kenya which has been developing since the mid 1990s.Legislation was passed in 2006 with the Micro Finance Act which became active in 2008.By 2010 there were 24 large micro finance institutions in Kenya, which provided US $1.5 billion to approximately 1.5 million active borrowers.With over 100,000 clients, Equity Bank had the largest share of business loans representing market share of 73.50% followed by Kenya Women Microfinance Bank with 12.06%. ---Image-Copyright-and-Permission--- About the author(s): Sidhanta Khuntia License: Creative Commons Attribution-Share Alike 4.0 (CC BY-SA 4.0) Author(s): Sidhanta Khuntia (https://commons.wikimedia.org/w/index.php?title=User:Sidhanta_Khuntia&action=edit&redlink=1...
Time is money. So for people in business, the time lost in banking halls trying to get loan approvals from Microfinance institutions and banks equals money lost. In Kenya, one Microfinance institution is using mobile phones to eliminate this problem.
The Lions Clubs of Kenya (District 411A) have embarked on a Microfinance program with the Technical guidance of ASA Kenya. This program targets women from low income areas The need for a Microfinance program was necessitated by the fact that loans for microenterprise is prohibitive but the socio-economic demands on low income families is ever increasing. Lions Clubs have thus partnered with ASA Kenya who have specialized in financing the low income categories and provide the lowest interest rates in the Kenyan market in addition to the capacity enhancement provided to beneficiaries. Women are also going to be the key focus as it has been established that they support more households and have over 98% repayment rate
Daraja DTM Ltd is a new business being established by a number of investors that that seek to offer microfinance services to the small and micro entrepreneurs in Dagoretti Division of Nairobi City, a sector that is majorly still underserved but with high growth opportunities. The institution is seeking for licensing as a community deposit taking microfinance institution by the Central Bank of Kenya. It is the view of Daraja that access to financial services for low income groups in all areas (urban and rural) still needs to be improved and a focus on urban areas shall be the initial focus of Daraja with a vision of expanding to other urban and rural areas in the future. With the vision of being “the most preferred financial institution by micro and small scale entrepreneurs (MSEs) in Ken...
The High Court has certified as urgent a case in which over10-thousand members of the dissolved Kenya Akiba Microfinance Limited have sued Central Bank of Kenya. High Court Judge Francis Tuiyot said the affected members have a right to a refund of over 2 billion shillings and assets confiscated by CBK during closure of the organization.
The Central Bank may review the micro-finance act to enable more institutions to operate as deposit taking organizations. Central Bank Governor Professor Njuguna Ndungu says the amendment will help in implementing the agency model which allows large commercial banks to transact their business through third parties. Professor Ndungu was speaking during the opening of a regional micro - finance conference sponsored by Standard Chartered Bank.
The Central Bank of Kenya Has licensed Maisha Microfinance Bank to carry out community based microfinance, making it the thirteenth microfinance bank to receive the green light after eight nationwide and four community based banks. According to the CBK, the licensing will encourage innovation, competition and increased outreach which is in line with the regulators mandate to enhance financial inclusion and promote economic growth in Kenya. Maisha MFB is a Kenyan-owned company limited by shares. It intends to commence operations in Nairobi County with an objective of expanding across the country with time. Other institutions Licenced to operate as microfinance banks in the country include Faulu Kenya, Kenya Women, SMEP, REMU, Rafiki Dtm, Century Mfb, Sumac and Caritas Micro Finance Bank. T...
A success story on the success of money banking in Kenya where un-banked Kenya's can access banks facilities even in the areas where banks have remained shy. Kenya Empowerment Entrepreneur Foundation(KEEF) is one such a micro-finance changing common citizens by issuing loans for as low as 0.7% per month interest.
The Central Bank of Kenya has licensed Choice Microfinance Bank to carry out community microfinance banking business. Choice Microfinance Bank becomes the eleventh microfinance bank to be licensed following the licensing of seven nationwide Microfinance Banks and three community-based Microfinance Banks.
Documentary showing how Safaricom's M-PESA Mobile Money Transfer service is changing lives in Kenya. For more background, please see this interview with the creator - Nick Hughes http://www.youtube.com/watch?v=J-PDSN-SrEk and read more on Wikipedia http://en.wikipedia.org/wiki/M-Pesa
visit our website!!! http://brothersandsistersinkenya.weebly.com/ Inspired by a friendship with an international student from Kenya, I visited his village in the summer of 2010 to begin a micro-finance network. Most people in my friend's village live without electricity and indoor pluming. They are poor but they are not helpless. They are hard working people with a plethora of gifts and talents. Our mission is to empower people to use their gifts and talents to contribute to the redemption of the world and continuing construction of the kingdom of God on Earth as it is in heaven. (My friend currently runs Division I track and can not use his name to raise money but will be playing a major role in this mission when he graduates in the Spring of 2011. )
Chandra Shekhar Ghosh: Chairman and Managing Director, Bandhan Financial Services Pvt. Ltd. Christudas K.V.: General Manager, ESAF Microfinance and Investments Pvt. Ltd. Amit Mehta: Managing Director, Vayam Renewable Ltd. (Member of BASIX Group). Veronica Muchiri: Manager Central Finance Fund, Kenya Union of Savings and Credit Co-operatives Ltd. Moderator: Saiful Islam.
Graduate students in the ATLAS Master of Science in Information and Communication Technology for Development (MS-ICTD) program in April 2013 presented the work they've accomplished during their practicum semester.