Microfinance institutions in kenya
Microfinance & Microenterprise Opportunities in Kenya
Microfinance & Microenterprise related services play a vital role in Kenya's economy. An estimated 10 percent to 15 percent of the population relies entirely on NGOs and informal associations for financial services. A national survey given in 1999 estimated that 20 percent of the country's total employment was involved in microenterprises, contributing more than 25 percent of non-agricultural GDP. In 2007, Kenya passed the Microfinance Bill to regulate microfinance institutions in conjunction with the Association for Microfinance Institutions (AMFI), based in Nairobi and funded by a large USAID grant. The aim of the bill is to protect populations who are out of the scope of traditional banking services from corrupt microfinance institutions.
To read more about Microfinance & Microenterprise issues in Kenya, click here .
FSD partners with several community based microfinace institutions that effectively supply capital, training, and business development resources to margnilized communities throughout the Kakamega and Mombasa regions. We collaborate with donors, interns, and volunteers support economic development and access to capital. Below are some examples of what we do:
- Assist in identifying appropriate clients for a micro-credit program. Help instruct clients on effective uses of micro-loans and savings methods. Gather clients into
loan groups, support loan distribution, and meet with borrowers to discuss the progress and payment of their loans.
- Support job and micro-enterprise skills training of rural community members for the promotion of small scale manufacturing trade and/or service enterprises.
- Offer community members the business management and bookkeeping skills needed to ensure the success of local dairies.
- Help pursue international funding opportunities for a microfinance organization to expand credit and business training programs. Research potential donors and assist relationship building.
- Support vocational training initiatives for vulnerable youth. Courses are offered in masonry, carpentry, and tailoring. Technical aspects are combined with training in traditional design and business management/bookkeeping. Graduates of the program move on to operate their own micro-enterprises.
- Help research, design, and develop appropriate methods of financing economically sustainable micro-enterprises run by community members affected by HIV/AIDS. Offer technical assistance, leadership skills, and business training to help mobilize families influenced by the virus.
Read more about Microfinance & Microenterprise programs and opportunities initiated by our Community Partners in Kenya.
For a description of the opportunities available in each development subject addressed by FSD in Kenya, click on the links below:
Click here to return back to the Microfinance home page.Source: www.fsdinternational.org
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