Kenyan microfinance institutions have for a long time served the unbanked segments of the population despite several obstacles in their quest to access this niche.
It is estimated that micro-enterprises contribute about 18 per cent of Kenya’s gross domestic product and 25 per cent of non-agricultural GDP.
It is thus not surprising that many MFI’s have taken to using technology, especially mobile phone platforms, to cut on high operational costs and reliance on commercial banks while increasing focus on core functions.
Early this year, during the opening of the Africa-Middle East Regional Micro-Credit Summit in Nairobi, President Mwai Kibaki affirmed the central role micro-finance plays in national development by striving to address the challenge of providing financial services. Read more
No comments:
Post a Comment