The 43-member Kenya Bankers Association (KBA) reportedly has revised its constitution to make membership available to deposit-taking microfinance institutions (MFIs). The new constitution, which will take effect in January 2013, includes a new “associate” membership category to which eligible MFIs may be assigned. This has been reported as a victory for MFIs in the country that are anxious to take advantage of KBA’s lobbying resources.
The 36 Kenyan microfinance institutions reporting 2011 data to the US-based Microfinance Information Exchange report total loans of USD 1.7 billion and deposits collected totaling USD 2.1 billion.
By Lena Phillips, Research Associate
About Kenya Bankers Association (KBA)
Established in 1962, the Kenya Bankers Association (KBA) promotes the interests of its 43 member banks by engaging the government and the sector regulator, Central Bank of Kenya (CBK). The association has undertaken initiatives such as aligning standards for the industry; modernizing payments systems; and establishing an automated clearing house, which it operates in conjunction with the Central Bank of Kenya.
Sources and Additional Resources:
AllAfrica.com Article: by Solomon Kirimi, “Kenya: Bankers Body Opens Its Doors to Microbanks”, http://allafrica.com/stories/201212181508.html
MicroCapital.org Article, 18 October 2012: “MICROCAPITAL BRIEF: Central Bank of Kenya May Give Microfinance Institutions Access to Credit Reference Bureau”, https://www.microcapital.org/microcapital-brief-central-bank-of-kenya-may-give-microfinance-institutions-access-to-credit-reference-bureau/#more-20594
MixMarket.org Country Profile: Kenya, http://www.mixmarket.org/mfi/country/Kenya
MicroCapital Universe Profile: Kenya Bankers Association (KBA), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=kenya+bankers+association
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: KEPFIC Member Pension Funds Invest $61m in Acorn Holdings, Kenya Mortgage Refinance Company (KMRC) to Boost Affordable Housing
- MICROCAPITAL BRIEF: 3k Displaced Persons, Returnees, Hosts Access Loans, Guarantees, Business Training in Iraq
- MICROCAPITAL BRIEF: Nala Expands to Kenya, Offers Direct Bill Payment from UK, US
- MICROCAPITAL BRIEF: Credit Bank, FSD Kenya Engaging SACCOs in Effort to Reduce Remittance Costs for Rural Kenyans
- MICROCAPITAL BRIEF: World Bank ARISE Program Includes $230m Loan for Farmers in Ukraine
