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EAST AFRICA SUB-REGIONAL WORKSHOP. Millicent Omukaga Kenya Women Microfinance 19 th - 21 st May 2010 at Speke Resort, Kampala. ‘Banking on Women and the Most Vulnerable’ A Case of Kenya Women Microfinance, KENYA. Who We Are. Women- serving MFI since 1981 Rural, remote and poor urban
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EAST AFRICA SUB-REGIONAL WORKSHOP Millicent Omukaga Kenya Women Microfinance 19th - 21st May 2010 at Speke Resort, Kampala
‘Banking on Women and the Most Vulnerable’ A Case of Kenya Women Microfinance, KENYA
Who We Are • Women- serving MFI since 1981 • Rural, remote and poor urban • Licensed and regulated by Central Bank • Decentralized structure with extensive network
Organization Structure BOARD OF DIRECTORS MANAGING DIRECTOR EXECUTIVE SECRETARY PERSONAL ASSISTANT HEAD OF FINANCE DIRECTOR OPERATIONS CHIEF INTERNAL AUDITOR GENERAL MANAGER - HR GENERAL MANAGER MARKETING GENERAL MANAGER ICT RISK & COMPLIANCE MANAGER SECURITY MANAGER ADMINISTRATION MANAGER LEGAL MANAGER
What We Do Business: Credit, Savings and Insurance (micro) to women entrepreneurs Professionalism Team work Vision: “To be the Women Financial Solutions Provider with a Difference” Uphold the dignity of women values Learning and Innovation Mission: “To Partner with Women in their Creation of Wealth” Integrity Mutual respect for each other Diversity
Who We Target • Women and vulnerable youth • Scarcity of food, clean energy, sanitation, health care, education. • Culture and religion • Supplement the family income • Older daughters take care of the children and housework
What We Offer Focus on women empowerment & family needs. Through: • Business Loans • Touching Lives Products • Clean Energy Loans • Agriculture & aquaculture loans • Consumer Loans • Savings products & services
How We Do It Extensive reach and closeness to customers is a key differentiator. Personal touch Professional management Social connectedness Technology
How We Do It. Cont... Extensive reach and closeness to customers is a key differentiator. A good reputation & wide national network. Entrenched deep foundation in the market
What Women Say KWFT is • “Like a savior” • “Strict mother to our group” • “Beautiful woman with a very clean heart and who would like to uplift women’s lives” • “Would fit in everywhere and live just like us” • “Drives herself on a motor bike or 4-wheel in muddy weather” Source: Focus groups research by WWB 2010
Our Journey Staffing Clientele
Our Journey Cont. Disbursements (Ksh M) Outstanding Portfolio (Ksh M)
Our Journey Cont.. Sustainability Average Loan Size
Challenges • Clients Access • Cost of Funds • Cost of Technology • Human Resource Capacity • Insecurity
Experience with Youth • The fund • The target • The model • Success stories • Challenges • Lessons learnt
Way Forward • Mobilize deposits through branches • Increase clients base and disbursements • Increase product range & roll out savings products