MICROCAPITAL STORY: Kenya Women Finance Trust (KWFT) Seeking to Attain Microfinance Regulated Institution Status

The Kenya Women Finance Trust (KWFT) recently announced plans to attain status as a microfinance regulated institution by next year. Speaking at the opening of a new branch, Jennifer Riria, the Chief Executive Officer, said that the transformation would allow the company to provide better services to women as well as offer numerous development opportunities. To read MicroCapital’s profile on Jennifer Riria, click here. Over the last several years, KWFT has sought to find the best legal organization structure. In 1991, the company was restructured as a not for profit limited by guarantee in 1991. In 2007, the company announced, and MicroCapital reported, that they were seeking to attain status as a commercial bank, however, it is not clear whether or not that transformation was ultimately made.

Kenya Women Finance Trust was established in 1982 by a group of professional women with the objective of setting up a financial institution, led by women, devoted to adressing the financial needs of women. Today, KWFT provides loans for business expansion, school fees, emergencies, as well as health insurance through its Afya Card program. Started with a $25 investment by its founders, KWFT currently serves 250,000 women through 140 offices across the country. At the end of 2007, the company had USD 60.1 million in total loans outstanding

By Iyanna Holmes, Research Assistant

Daily Nation: Finance Trust Eyes Microfinance Status Next Year

MICROCAPITAL STORY: November 27, 2007, Kenya Women Finance Trust (KWFT) to Transform from Microfinance Institution (MFI) into Commercial Bank

WHO’S WHO IN MICROFINANCE: January 9, 2008, Jennifer Riria

MIX Market: KWFT

KWFT.org