Mary Ellen Iskenderian, President and CEO of Women's World Banking, considers why the East African Safari Rally is the perfect event to race for change in order to bring awareness to women's microfinance.

The Chief Executive Officer has steered Kenya Women Holdings to greater strategy and growth, but watching her mingle with women leaders last Saturday, one is left with a lasting impression that she is a grassroots mobiliser as well. With over 151 units all over Kenya, what a visibility the company enjoys in the world’s financial scene. Read more >>

On April 7, WWB’s network member Kenya Women Finance Trust (KWFT) was granted a license by the Central Bank of Kenya to become a deposit-taking microfinance organization. This is significant not just for KWFT but also for the Kenyan microfinance sector as it is only the second such license granted by the Central Bank.  Being able to take deposits will greatly affect the 334,000 poor women who are clients of KWFT, who will now have access to a range of saving products and a safe means to accumulate assets. 

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President Mwai Kibaki has challenged micro-finance institutions to reduce the cost of credit and expand their services to meet the growing needs of low-income earners. A vibrant micro-finance, which thrives on issuing tiny loans, the President said, would boost the country’s development.

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More coverage on the Microfinance in Africa Multi-Stakeholder Conference hosted by WWB and AMAF. Read full article: Kenya to Host Conference on the Future of Microfinance

Read the article "Kenya to Host International Conference on the Future of Microfinance in Africa" and listen to the interview with President and CEO, Mary Ellen Iskenderian.

Article mentioning Her Royal Highness and Diagnostic to Action Conference “Großherzogin Maria Teresa in Burundi und Kenia”

With the implementation in May 2008 of the Microfinance Act of 2006, Kenya Women Finance Trust has become the first microfinance institution able to accept customer deposits in the country. Previous to this, it was prohibited by law for any microfinance institution there, other than a commercial bank, to take deposits from the general public. Now that they are able to take deposits, they are regulated and can provide a range of financial products for the people of Kenya.

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Kenya Women’s Finance Trust (KWFT), a WWB core network member, and Equity, a GNBI member, are featured in the article “Banking on African Women: Loan Guarantees and Private Partners Improve Access” in Africa Renewal’s January 2009 issue. Equity’s CEO James Mwangi discusses its partnership with the UN Development Programme (UNDP) which set up a fund for giving loans whose amounts are based on an evaluation of the client’s business cash flow specifically to women, and the success it has seen.

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Equity bank has been named the best Microfinance Bank in Africa. The bank emerged the top microfinance bank of the year, beating three other entries from the continent in the category during the annual African Bankers Awards ceremony held in Washington DC, USA. The honor bestowed on the bank on the eve of the World Bank and International Monetary Fund finance ministers' annual meeting goes to the micro finance lender who has contributed most to reduce poverty in Africa.

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