Kenya Women Microfinance Bank, formerly Kenya Women Finance Trust or KWFT, is a deposit-taking microfinance bank in Kenya, the largest economy in the East African Community. KWFT is a medium-tier financial services provider in Kenya. As of December 2013, it was the largest deposit-taking microfinance bank in the country, with an asset base valued at about US$220 million (KES:21.75 billion). At that time, the microfinance bank had in excess of 600,000 deposit accounts and a loan book of approximately US$147 million (KSh:14.53 billion), and shareholders’ equity valued at US$29.5 million (KShs:2.9 billion). Let us see Types of Kenya Women Finance Trust Loans
The company was established in 2008, as Kenya Women Finance Trust (KWFT), a 100% subsidiary of Kenya Women’s Holding (KWH). In 2010, the institution was authorized to accept customer deposits, thereby becoming a deposit-taking microfinance institution. It changed its name to Kenya Women Microfinance Bank and became regulated by the Central Bank of Kenya (CBK). In order to comply with CBK regulations, KWH began to sell shareholding to the KWFT Board, staff, and foreign institutions. In July 2015 it sold 25% equity to 60,974 KWFT members, thereby reducing its own shareholding to the required 25% maximum.
In 2016, print media reported that the lender had plans to expand to Rwanda and South Sudan by the third quarter of 2017.
The shares of stock of Kenya Women Microfinance Bank are held by Kenyan and foreign institutions and individuals, as depicted in the table below:
This product is designed to help formal and informal Chama/groups meet their project objectives of purchasing capital assets to improve…
Today, we are going to share 8 different types of KWFT Loans that may be of help to you. Kenya Women Microfinance Bank (KWFT) is one of the leading Microfinance Institutions in Kenya dedicated to meet the needs of women.
KWFT was founded in 1981 by a group of women from different professions in a bid to tackle the financial and non-financial needs of women in Kenya.
The microfinance institution currently serves more than 800k customers across Kenya and they are attended to by over 2800 well trained employees.
Kenya Women Microfinance Bank is a fully-fledged Microfinance bank providing banking services among them credit and saving products that meet the needs of entrepreneurs from all walks of life.
1. Tausi Junior Account – This type of account is for parents who would like to save for the future of their kids (both boys and girls) who are below 18 years. This will instigate a saving culture in them.
2. Tausi Teen Account – This type of account is for children between age 12 – 17 years (both boys and girls) to relish their financial freedom and also sharpen their saving skills.
3. Student Account – This type of account is for ladies between age 18 – 26 years who are in colleges or universities across the country acquiring knowledge.
4. Inuka Transactional Account – This type of account is designated for people who want to have easy access to their money whenever they need it.
5. Tegemeo Savings Account – This type of account is designated for discerning savers who want to improve their savings to meet their desired financial target.
6. Riziki Fixed Deposit Account – This type of account is for people or institutions who long for a savings plan for a certain duration of time.
7. Call Account – This type of account is good for people who want to save for a short time to work on their short term projects.
8. Tujiunge Chama Account – This type of account is for KWFT women members in either a formal or informal group and want to grow their savings.
9. Inuka Salary Account – This type of account is for clients who are employed and would want to have access to their income and be granted personal loans without any hassle.
8 Different Types of KWFT Loans
1. KWFT Business Loans
This type of loan is given to clients who are into business.
KWFT offers 4 different types of loans that fall under the Business Loans category. They include:
It is given to women and young ladies who are into micro, small and medium businesses in order to broaden their hustles.
It is given to large scale entrepreneurs who are well established and require expanding their business
Asset Financing Loans
It is given to both new and old clients who want to purchase tangible assets for business efficiency and commercial usage. Eg: Cars, Motorbikes and office equipment among other things. Kenya Women Finance Trust Loans
Tujiunge Chama Account Loans
It is for both formal and informal women in a chama and would want to meet their financial goals.
2. KWFT Emergency Loans
It is given to people who have been faced with an emergency. Eg: fire, loss of properties as a result of burglary, death of livestock and stock loss.
3. KWFT Education Loans
It is given to clients who want to further their education or pay school fees for their loved ones.
4. KWFT Consumer Loans
It is divided into two. Phone loan and Salary loan.
Phone Loan – It is given to customers who want to have access to high-quality phones that are affordable to boost Mobile Banking.
Salary Loan – It is given employed clients against their income to broaden their credit facility.
5. KWFT Nyumba Smart Loan
It is given to customers who want to purchase high-quality building materials for their homes under construction.
6. KWFT Clean and Renewable Energy Loans
It is given to women in rural areas so that they can have access to biogas, electricity connection, solar and eco-friendly stoves among other things.
7. KWFT Kilimo Bora Loans
This type of loan is given to women in rural areas who are into dairy farming, green house farming, fish farming, bee keeping and agro-dealing among other things. Kenya Women Finance Trust Loans
8. KWFT Water, Sanitation and Hygiene Loans
This type of loan is given to women in rural areas to boost their access to water, sanitation and hygiene products. Kenya Women Finance Trust Loans
It is worth noting that you can be denied KWFT Loans if you don’t meet the requirements. This means that you need to be fully equipped with all the required documents to avoid being sent back home.
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