Don’t be duped, these are the only licensed Micro-Finance institutions allowed to operate in Kenya according to CBK

Friday, April 26, 2024 - The Central Bank of Kenya has published a list of microfinance institutions that are licensed to operate in the country.

In a notice, it was noted that the licensed institutions were only 14 covering both those categorized as financial service providers allowed to operate nationally or within communities.

Microfinance institutions are financial institutions that offer banking services to low-income individuals or groups.

Among those institutions listed were; Faulu Microfinance Bank Limited, Kenya Women Microfinance Bank PLC, Salaam Microfinance Bank Limited, and SMEP Microfinance Bank PLC.

Other licenced institutions were; LOLC Kenya Microfinance Bank PLC, Rafiki Microfinance Bank Limited, Branch Microfinance Bank Limited, Sumac Microfinance Bank Limited, U & I Microfinance Bank Limited, and Umba Microfinance Bank Limited.

Choice Microfinance Bank Limited, Caritas Microfinance Bank Limited, On It Microfinance Bank Limited, and Muungano Microfinance Bank PLC were also among those licensed to operate.

CBK noted that the list was published per the law given that the CBK is the only one mandated to licensed such institutions.

Below is the list of the licenced institutions;

Faulu Microfinance Bank Limited

Kenya Women Microfinance Bank PLC

Salaam Microfinance Bank Limited

SMEP Microfinance Bank PLC

LOLC Kenya Microfinance Bank PLC

Rafiki Microfinance Bank Limited

Branch Microfinance Bank Limited

Sumac Microfinance Bank Limited

U & I Microfinance Bank Limited

Umba Microfinance Bank Limited

Choice Microfinance Bank Limited

Caritas Microfinance Bank Limited

On It Microfinance Bank Limited

Muungano Microfinance Bank PLC

The Kenyan DAILY POST