Century Deposit Taking Microfinance (DTM), a microfinance institution (MFI) established in 2012 in Kenya, is seeking investors to allow it to launch a fund with a focus on agribusiness.Century DTM reportedly will raise funds through “share capital mobilization, fund raising from development organizations and partnerships based on credit guarantees.” These funds would be used to provide collateral-free loans ranging between USD 70 and USD 12,000 to farmers in Kenya to attempt to increase production to meet international demand. Funds would also be accessible to agribusinesses that process non-food crops that are used for products such as, “herbal medicines, food supplements and cosmetics.”
Century DTM is one of seven MFIs in Kenya to accept deposits. It operates nationwide and is predominantly owned by Kenyan corporations and local investors. Financial information on the organization is unavailable.
By Sarah Benali, Research Associate
About Century Deposit Taking Microfinance (DTM)
Century Deposit Taking Microfinance (DTM) is a Kenyan MFI that was established in 2012. It received a license from the Central Bank of Kenya to accept deposits nationwide in October 2012. Century DTM is predominantly owned by Kenyan corporations and local investors. No financial information on the organization is available.
Sources and Additional Resources
Theeastafrican.co.ke story: “New fund to focus on small agribusiness,” by Steve Mbogo, December 2012, http://www.theeastafrican.co.ke/business/New-fund-to-focus-on-small-agribusinesses/-/2560/1639378/-/2cs5ca/-/index.html
MicroCapital.org story: “MICROCAPITAL BRIEF: Central Bank of Kenya Licenses Century Deposit Taking Microfinance (DTM),” October 19, 2012, http://www.microcapital.org/microcapital-brief-central-bank-of-kenya-licenses-century-deposit-taking-microfinance-dtm/
MicroCapital Universe Profile: Century Deposit Taking Microfinance (DTM)
MicroCapital Universe Profile: Central Bank of Kenya
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/