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Top 10 Best Microfinance Institutions in Kenya in 2023

Top 10 Best Microfinance Institutions in Kenya

Are you looking for the best microfinance institutes in Kenya? Kenya is home to some of the most advanced and successful microfinance institutions in the world. From providing small loans to low-income entrepreneurs to financial inclusion initiatives, these microfinance institutions are transforming lives and empowering communities all over the country. These microfinance institutions are also providing educational programs and training to help individuals become more financially literate. With their innovative products, services, and initiatives, microfinance institutions are making a real difference in the lives of millions of Kenyans.

Below are some of the leading microfinance institutions in Kenya;

1. Kenya Women Finance Trust (KWFT)

Kenya Women Finance Trust (KWFT) is a microfinance organization that provides financial services to Kenyan women and their families. The goal of KWFT is to provide women with financial independence by providing them with access to resources and other services. In addition to being registered with the Central Bank of Kenya, KWFT is a member of the International Finance Corporation (IFC). Since its founding in 1983, it has provided services to over 1 million people. Savings, credit, microinsurance, financial literacy instruction, and group assistance are just a few of the services offered by KWFT.  The organization has a network of over 300 branches and agents throughout Kenya, and its services are available in both urban and rural areas.

KWFT Contacts:

KWFT HEADQUARTERS: Akira house, Upper Hill Nairobi

Email: [email protected]

P.O. Box 4179 -00506 Nairobi

Customer care number: 0703 067 700

2. Faulu microfinance

Faulu Microfinance is a microfinance banking service provider in Kenya. The company is regulated by the Central Bank of Kenya and is a member of the Association of Microfinance Institutions in Kenya. It provides financial services including savings, loans, and insurance to individuals and groups. It was established in 1997 with the support of the International Fund for Agricultural Development and the United Nations Capital Development Fund. The company’s mission is to reduce poverty by providing financial services to the underserved and by empowering small businesses in Kenya. Faulu Microfinance has a network of over 200 branches and over 500 agents located in all major towns and cities in Kenya. It provides a range of financial services including savings, loans, and insurance. Faulu also offers a mobile banking platform that allows customers to access their accounts and make payments on their phones.

Faulu contacts

Head Quarters: Ngong Lane, Off Ngong Road

Email: [email protected]

P O Box 60240 00200 City Square, Nairobi

Tel: +254 20 3877290

Fax: +254 3867504

3. Choice Microfinance Bank Limited

This is one of Kenya’s most well-known community-based microfinance organizations. M-Pesa Pay Bill is a deposit method accepted by Choice Microfinance Bank. Loans and savings accounts like the Asset Mali Account and Faidikeni Fixed Deposit Account are among their offerings.

Choice MFI was first a diaspora tale, but as it developed, it also became a tale about the local community. It connects Kenyan Diaspora Investments to the local population’s requirement for microcredit facilities to enhance their standard of living and end cycles of poverty.

Choice Microfinance Contacts:

Physical Address: Siron Place, Magadi Road, Ongata Rongai

Email: [email protected]

P. O. Box 18263 – 00100

Nairobi, Kenya

Tel: +254 20 3882 206

Tel: +254 20 3882 207

4. SMEP Microfinance Bank

SMEP Microfinance Bank is a Kenyan financial institution that offers financial services to the country’s small and medium-sized enterprises (SMEs) and it has also been ranked as one of the best microfinance institutions in Kenya. It was created in 2007 as a Development Financial Institution (DFI) under the Microfinance Act of 2006. The bank provides a variety of services such as savings, loans, insurance, and mobile banking solutions. It also provides SMEs with capacity building and training to help them manage their businesses more effectively. The Central Bank of Kenya regulates SMEP Microfinance Bank, which has offices in Nairobi, Kisumu, Eldoret, and Mombasa.

SMEP Contacts:

SMEP HEAD OFFICE: Kirichwa Road

E-mail: [email protected]

P.O.BOX 64063-00620 NAIROBI, Kenya.

Telephone: +254 20 2673327-8

5. Musoni Microfinance Institution

Musoni is a Kenyan microfinance organization. It offers its members a variety of financial services, such as savings, loans, and insurance. Musoni’s mission is to provide low-income and rural Kenyans with affordable and accessible financial solutions.

Musoni was established in 2009 and is governed by the Central Bank of Kenya. Through its network of over 400 agents, it provides financial services to over 200,000 clients. It places a significant emphasis on financial inclusion, making financial services available to people from all economic backgrounds. Musoni has also collaborated with non-profit groups to give technical support to its members and to promote financial literacy.

Musoni contacts:

Headquarters: Cape Office Park, Ring Road Kilimani

Email: [email protected]

P.O. Box 25351 – 00100 Nairobi, Kenya

Tel: +254-020-2609355 / 2166007

6. Rafiki Microfinance Bank Ltd

Rafiki Microfinance Bank Ltd is a leading microfinance bank in Kenya. The bank was established in 2005 and offers a range of financial services to its customers including savings, loans, and other banking services. Rafiki Microfinance Bank Ltd is committed to providing financial services to low-income households and entrepreneurs to reduce poverty and promote economic growth in Kenya. The bank is also active in financial education and capacity building to ensure its clients can make informed decisions and manage their finances responsibly. The bank has a network of over 40 branches throughout the country and serves more than 400,000 customers.

Rafiki Microfinance Contacts:

Headquarters: Head office Biashara Street

P.O. Box 12755-00400

Mobile: 0730 170 000

Telephone: 0730 170 500

7. Uwezo Microfinance Bank Ltd

Uwezo Microfinance Bank Ltd is a full-service microfinance bank in Kenya that offers financial services and products to underprivileged communities. The bank is committed to supporting low-income entrepreneurs, company owners, and households with savings, credit, and other financial services. Uwezo Microfinance Bank Ltd provides a variety of services, such as small business loans, personal loans, savings accounts, and transfers. The bank also offers financial literacy and education to consumers, assisting them in better understanding the many financial services accessible to them. Uwezo Microfinance Bank Ltd also provides financial services such as mobile banking, debit cards, and electronic payments. The bank places a great focus on prudent lending, assisting customers in obtaining finances without putting themselves at risk.

Uwezo MFI Contacts:

Park Plaza Branch: Park Plaza, Ground floor, Moktar Daddah Street.

Email: [email protected]

Telephone: +254 20 221 2919

Mobile: 0752600619

8. Century Microfinance Bank Ltd

This MFI focuses on lending to Kenyan agri-businesses. Century Bank, like many of the Microfinance Institutions in Kenya, offers loans. You may save money by depositing money into your Century Microfinance Bank account regularly via M-Pesa.

The MFI has a few branches in Nairobi, the central area, and western Kenya. Their headquarter is located in Gikomba, while additional offices are in Githurai.

Century contacts:

Head Office, KK Plaza 1st Floor Gikomba

Email: [email protected]

Mobile: 0722168721, 0756305132

9. Momentum Credit

This is another Kenyan microfinance organization. It is very new, yet it already has a sizable client base and is rapidly expanding. Momentum Credit was launched in March 2017 to meet an enormous market need for structured working capital solutions for individuals and small and medium-sized businesses (SMEs). It provides financial services to those who are often excluded from access to the formal financial system, such as small business owners, farmers, and low-income earners.

Momentum Credit Contacts

Head Office: International Life House Nairobi.

P.O Box 29175 – 00100 Nairobi

Office Line: +254 796 444 555 | Customer Support +254 709 434 000

10. Jamii Bora

Jamii Bora Microfinance is a Kenyan microfinance organization that assists the underprivileged with financial services. It was formed in 2001 by the late John Githongo and has since grown to become one of Kenya’s largest and most successful microfinance companies, with over KES 4 billion in the loan portfolio and over 500,000 members. To help its members become financially self-sufficient, the organization offers a variety of goods and services ranging from savings and credit to insurance and business development services. Jamii Bora also collaborates with local and international partners to help impoverished communities in Kenya thrive economically and socially.

Jamii bora contacts

Jamii Bora House, Koinange St, City Centre, P.O. Box 22741-00400, Nairobi, Kenya

Email: [email protected]

Phone number: +254202219626

Mobile number: +254734600682

Fax: +254202245223

In summary

The top microfinance providers in Kenya are playing an essential role in driving the country’s economic development and providing Kenyans with access to the capital they need to achieve their goals. With their commitment to financial education and quality services, these companies are helping to create a brighter future for all.

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