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
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