Tuesday, February 27, 2024
HomeBusinessBankingList of best Microfinance...

List of best Microfinance Institutions in Kenya.

List of best Microfinance Institutions in Kenya. Microfinance Institutions offer small (micro) loans to customers who can not access conventional financial aid from banks. The nature and functioning of these institutions vary depending on the purpose and targeted groups. Some institutions are based on gender and strictly offer microfinancing services.

Although they are an alternative to banks, some operate as extensions of large investment banks. By doing this, people living in under-developed regions can access the banks’ funding through these Institutions run by the banks. This is a list of the best microfinance banks in Kenya. The list focuses on fully-fledged and award-winning microfinance institutions that offer a full range of financial services to individuals and SMEs.

Here is a List of best Microfinance Institutions in Kenya

SMEP Microfinance Bank

It focuses on asset financing, retail banking, group banking, provision of credit to businesses and church banking. Its head office is along Kirichwa road, Nairobi, Kenya. Contact +254 2026733278.

SMEP focuses on group microfinance banking, small-medium enterprise banking and church banking. Its mission is to be a dynamic Christian provider of financial solutions in a bid to transform lives.

CEO: Mr Symon Kamore

Postal Address: P.O. Box 64063 – 00620, Nairobi

Telephone: +254 – 020 – 3572799/2055761, 2673327/8, 0711606900

E-mail: info@smep.co.ke

Website: www.smep.co.ke

Physical Address: SMEP Building – Kirichwa Road, Off Argwings Kodhek Road, Nairobi

Kenya Women Finance Trust (KWFT)

KWFT is one of the oldest and most popular in Kenya. The Central Bank of Kenya licensed the institution to operate in 2010. Currently, it is the largest Deposit-taking microfinance institution in Kenya.

With over 600,000 customers and 231 branches nationwide, KWFT offers savings and loan services to all women and girls. It stands to be one institution that has embraced Mobile Money in Kenya, as customers can make deposits through Mpesa.

You can reach KWFT on their line at 0703067700 or at info@kwftdtm.com. You can also write a letter through their postal address, 4179-00506, Nairobi, or physically visit their office headquarters at Akira House in UpperHill Nairobi or any branch nearest you.

The bank was established with the mission of exclusively addressing the financial and non-financial needs of women in the country but with time has evolved to include products that service everybody including children and men. It currently boasts of close to a million active clients.

Managing Director: Mr James Mwangi Githaiga

Postal Address: P. O. Box 4179-00506, Nairobi

Telephone: +254 – 020 – 3067000, 2470272-5/2715334-5, 0729920920, 0732633332,

0703 – 067000

E-mail: info@kwftdtm.com

Website: www.kwftdtm.com

Physical Address: Akira House, Kiambere Road, Upper Hill, Nairobi

Sumac Microfinance Bank Limited

It is a deposit- taking and loaning microfinance bank whose headquarters is along Koinange Street, Nairobi, Kenya. Contact +254 202212587.

Today it is a recognized bank which has won several accolades and cemented its reputation in the finance industry. Besides many types of loan services, it offers mobile banking, forex, insurance, bonds and trade finances.

CEO: Mr John Kamau Njihia

Postal Address: P. O. Box 11687 – 00100, Nairobi

Telephone: +254 – 020 – 2212587, 2210440, 2249047, 0738637245, 0725223499

Fax: 20 2210430

E-mail: infor@sumacmicrofinancebank.co.ke

Website: www.sumacmicrofinancebank.co.ke

Physical Address: Consolidated Bank House, 2nd Floor, Koinange Street, Nairobi

Century Microfinance Bank

Just like other MFIs, Century offers saving and loan services to customers. However, this MFI specializes in agribusiness loans.

Deposits to Century are made through Mpesa, and customers get the loans directly to their accounts within a brief period.

These institutions provide the youth with opportunities to achieve financial freedom. However, I advise that you should strictly use the money borrowed from MFIs for the intended purpose, income generation. This is because the borrowed money has to be repaid at interest.

At the core of its business model is the value chain financing approach which involves activities that promote the addition of value to its products to cater to specific industry needs.

With over 25,000 clients, the microfinance bank which currently has two branches is slowly but steadily transforming the economy with impactful services.

CEO: Mr Reuben Mwangi

Postal Address: P. O. Box 38319 – 00623, Nairobi

Telephone: +254 – 020 – 2664282, 0722 – 168721, 0756 – 305132

E-mail: info@century.co.ke

Website: www.century.co.ke

Physical Address: K.K. Plaza, 1st Floor, New Pumwani Road – Gikomba, Nairobi

Momentum Credit

This is a new MFI on the market. The institution was founded in March 2017 but had a vast customer base steadily increasing. Momentum Credit aims to provide the overwhelming demand for capital to SMEs and individuals.

It is entirely new but has a considerable customer base, and it is growing fast. Momentum Credit was founded in March 2017 with purposeful intent to meet an overwhelming market need of providing structured working capital solutions to Individuals and Small Medium Enterprises (SMEs).

Momentum Credit Contacts

Head Office: International Life House Nairobi.

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

P.O Box 29175 – 00100 Nairobi

Caritas Microfinance Bank Limited

Caritas is a multifaceted finance institution offering numerous products that span across business, education, personal loans and insurance. With a mission of providing convenient and innovative financial solutions while growing shareholders value, the company has grown its customer base and gained a good reputation despite having only one branch.

CEO: Mr George Mugwe Maina

Postal Address: P. O. Box 15352 – 00100, Nairobi

Telephone: +254 – 020 – 5151500

E-mail: info@caritas-mfb.co.ke

Website: www.caritas-mfb.co.ke

Physical Address: Cardinal Maurice Otunga Plaza, Ground Floor, Kaunda Street, Nairobi.

Rafiki Microfinance Bank

Rafiki Microfinance is one f the few MFIs that offer diaspora banking, savings, and loan services. This institution provides affordable asset finance and loans for chamas and SACCOs.

Rafiki MFI offers the best loans through the Kilimo Biashara account for agriculture. Below are Rafiki’s MFI contacts.

Managing Director: Mr Ken Obimbo

Postal Address: P. O. Box 12755 – 00400, Nairobi

Telephone: +254-020-2166401/0730 170 000/500

E-mail: info@rafiki.co.ke

Website: www.rafiki.co.ke

Physical Address: Rafiki House, Biashara Street, Nairobi

Musoni Microfinance Institution

This is one of the youngest Institutions on the market. The letter “M” in Musoni stands for Mobile since it is centered around Mobile banking. Currently, it stands as the most paperless Microfinance institution on the market.

With Musoni, there are no hidden charges when registering. The loans are processed within 72 hours and deposited into your account on loan applications.

Uwezo Microfinance Bank

Uwezo Microfinance provides both loans and savings services. The institution offers short-term loans at flexible interest rates. Uwezo aims to create wealth and improve living standards for individuals, small groups, or SMEs.

Farmer loans from Uwezo are the best option in the market for those who want to venture into agriculture.

Uwezo MFB is an institution that specializes in providing financial services to micro, small and medium-sized companies around the country. With an active customer base of 30,000, the bank is arguably doing very well in ensuring financial inclusivity among community members.

It utilizes both mobile banking services and branch network to provide value for Kenyans and better their livelihoods. Services include personal loans, savings and deposit accounts, Chama accounts, logbook loans and SME loans.

CEO: Mrs. Ellen Ethangatta.

Postal Address: 1654 – 00100, Nairobi

Telephone: 2212919, 0703591302

E-mail: info@uwezodtm.com

Website: www.uwezodtm.com

Physical Address: Rehani House, 11th Floor, Koinange Street, Nairobi

Maisha Microfinance Bank

Maisha Microfinance is an award-winning and fastest-growing microfinance bank in Kenya, offering a range of financial services to economically active entrepreneurs in order to expand their economic possibilities. The bank has only one branch located on the 2nd Floor, Chester House, Nairobi.

Contacts: 0792 002 300, 0736 028 982.

Email: info@maishabank.com.

First Microfinance Bank To Roll Out A Telco-Backed Mobile Savings and Loan Product, 3rd Fastest-Growing Microfinance Bank at Think Business Banking Awards, 2018 and the best Microfinance Bank in Product Innovation at the Think Business Banking Awards, 2019.

These are just a few of the accolades Maisha Microfinance has won lately and as its innovative products continue to attract new customer, the company is bound to grow. Maisha offers personal loans, business loans, savings and deposits accounts, overdraft services and trade financing.

CEO: Mr Ireneus Gichana

Postal Address: P.O. Box 49316 -00100 GPO Nairobi

Telephone: 0792 002 300/020 2220648

E-mail: info@maishbank.com

Website: www.maishabank.com

Physical Address: 2nd Floor, Chester House-Commercial Wing, Koinange Street, Nairobi

Choice Microfinance Bank Limited

This is one of the biggest Community-based Microfinance Institutions. The Choice headquarters is located in Rogai Kajiado county. The institution offers services such as loans and savings.

Choice Microfinance’s savings include the Faidikeni Fixed deposit and the Asset Mali accounts. Just like Faulu, you can make deposits on Choice through Mpesa.

Choice Microfinance started linking people in the diaspora with local investment opportunities. This was through providing small business loans that locals could use to create small business enterprises.

Upon successfully securing better livelihoods, some of the immigrants found the need to invest back to their countries and create similar opportunities for Kenyans.

Currently, Choice Microfinance is a top choice for many small and medium enterprises seeking financial services on a personal level which improves their success rates.

CEO: Ms. Lydiah Maina

Postal Address: P. O. Box 18263 – 00100, Nairobi

Telephone: +254 – 020 3882206 / 207, 0736 – 662218, 0724 – 308000

E-mail: info@choicemfb.com

Website: www.choicemfb.com

Physical Address: Siron Place, Ongata Rongai, Magadi Road, Nairobi

Faulu Microfinance

Faulu is another big deposit-taking microfinance institution. Currently, it is the leading institution when it comes to giving microloans. Faulu has branches scattered all over the country to access customers. Also, with Faulu, customers can deposit their accounts through Mpesa.

Loans from Faulu are easily accessed. The loans are processed within 24 hours, and the interest rates are amicable. One can perform transactions on Faulu at any Faulu branch, Faulu agent, or ATM within the country.

Faulu headquarters is located along Ngong Lane, off Ngong Road in Nairobi.

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

Daraja Microfinance Bank Limited

Daraja prides itself as an institution which exercises high levels of professionalism and integrity in its vision of transforming businesses and lives. The microfinance bank, headquartered at Nairobi is founded on a business model which prioritizes value-driven and customer-focused solutions.

Among its most popular services include fixed deposit accounts, asset financing, transactions enhanced accounts and Chama accounts. Its goal is to serve customers regardless of individual roles and functions while applying the same ethos with its shareholders and partners.

CEO: Mr. Githuku Mwangi

Postal Address: P.O. Box 100854 – 00101, Nairobi

Telephone: +254 – 020 – 3879995 / 0733 – 988888, 0707 – 444888, 0718 – 444888

E-mail: daraja@darajabank.co.ke

Website: www.darajabank.co.ke

Physical Address: Karandini Road, off Naivasha Road, Nairobi

U&I Microfinance Bank

U&I is a licensed microfinance bank targeting SMEs and large enterprises by providing working capital, facilitating technological improvements and business innovations. The bank’s main office is located on 1st Floor Asili Complex, River Road, Nairobi. Other branches are located in Gikomba and Thika.

Contacts: 020 240 3402.

Email: info@uni-microfinance.co.ke.

CEO: Mr Simon Mwangi Ngigi

Postal Address: 15825 – 00100, Nairobi

Telephone: +254 – 020 – 2367288, 0713 – 112791

E-mail: info@uni-microfinance.co.ke

Website: www.uni-microfinance.co.ke

Physical Address: Asili Complex, 1st Floor, River Road, Nairobi

KEY Microfinance Bank Limited

Earlier in 2019, Remu Microfinance rebranded to KEY Microfinance in a bid to shade off its regional outlook and position itself as a fully-fledged microfinance bank with a national outlook.

The institution which offers both banking services and credit services is on a mission to unlock opportunities for financial growth and prosperity while providing rewarding financial services to its niche markets.

Some of its products include; Savings, Current and Investment Account, ME Financing, Asset Finance, Trade Finance and personal loans.

CEO and MD: Mr Gregory Siro

Postal Address: P.O. Box 20833 – 00100, Nairobi

Telephone: +254 – 020 – 2214483/2215384/ 2215387/8/9, 2631070, 2215380, 2215384/5/7/8/9, 0733-554555

E-mail: info@remultd.co.ke

Website: www.remultd.co.ke

Physical Address: Finance House, 14th Floor, Loita Street, Nairobi

Credit-Only Microfinance Banks

Besides the Microfinance institutions above there exist numerous others which may not be licensed by the CBK but offer microfinance services and members of the Association of Micro-Finance Institutions in Kenya. Most of these are credit only microfinance institutions based in Kenya or as branches of international banks.

Hand to Hand Eastern Africa. Website: www.handinhand-ea.org

BIMAS Kenya Limited. Website: www.bimaskenya.com

SEEP – Social Economic Empowerment Program. Website: www.seepnetwork.org

Musoni Microfinance. Website: www.musoni.co.ke

Yehu Microfinance Limited. Website: www.yehu.org

Ushindi Bora. Website: www.ushindibora.com

Swiss Contact. Website: www.swisscontact.org

FinCredit Limited. Website: www.fincredit.co.ke 

ECLOF Kenya. Website: www.eclof-kenya.org

Premier Credit Limited. Website: www.premierkenya.co.ke

OIKO Credit. Website: www.oikocredit.coop/en

Neema HEEP. Website: www.neemaheep.org

MESPT – Micro Enterprises Support Program Trust. Website: www.mespt.org

Longitude Finance. Website: www.longitudefinance.co.ke

Juhudi Kilimo Company Limited. Website: www.juhudikilimo.com

Jitegemea Credit Scheme. Website: www.jitegemea.co.ke

AFRACA – African Rural and Agricultural Credit Association. Website: www.afraca.org

Follow us on Twitter. Send us a secure tip

- A word from our sponsors -

Most Popular

More from Author

KUPPET Questions Government Directive For Parents To Pay Schools Fees E-Citizen Platform

KUPPET opposes the Government directive for parents to use eCitizen platform to pay...

List of The best AC Repair Companies in Nairobi, Kenya

List of The best AC Repair Companies in Nairobi, Kenya. Air...



- A word from our sponsors -

Bridging Cultures, Building Futures: The Kiige and Emmanuel Initiative for Immigrant Empowerment in Canada

In the heart of Canada's multicultural landscape, Duncan Kiige and Emmanuel, both celebrated public speakers with immigrant backgrounds, have become symbols of hope and transformation for new immigrants. Their recent conference on career and personal development marked a significant milestone in their mission to empower newcomers with...


The NRM government is very proud to see the example of our young people begin to build Uganda by putting up projects such as this one. We congratulate Ham Kiggundu for this excellent jobKAMPALA UGANDA| As sports lovers countdown to 2027 when the Nakivubo-based Hamz Stadium will...

Raila’s search for a post with the AU Commission could be a suitable trapdoor or departure.

In Kenyan politics, Raila Odinga has long been a mystery. His international performance? Even when the African Union designated him, he remained debatable.But he said on Thursday that he would run for the position of Chairperson of the African Union Commission. One diplomat tampered with his first...

Court Finds Jowie Irungu Guilty of Monica Kimani’s Murder

In a landmark ruling, Justice Grace Nzioka declared Jowie Irungu guilty of the murder of Monica Kimani. According to Justice Nzioka, the evidence presented convincingly establishes Jowie's culpability in the crime beyond a reasonable doubt.Highlighting the sequence of events, Justice Nzioka outlined how Jowie, armed with a...

KUPPET Questions Government Directive For Parents To Pay Schools Fees E-Citizen Platform

KUPPET opposes the Government directive for parents to use eCitizen platform to pay school fees calls for clear public participation, legislation and policy framework.KUPPET national officials have opposed the move by Government to force parents to use eCitizen platform to pay school fees saying it will be difficult for...

List of best Audiology Services in Nairobi, Kenya

List of best Audiology Services in Nairobi, Kenya. The word audiology is made up of two roots: Audio and Logy. ‘Audio’ refers to ‘hear’ and ‘logy’ to ‘the study of’. In essence, audiology is the study of hearing - as the inner ear is also required...