Kenya Women Microfinance Bank

Kenya Women Microfinance Bank
Company type	Private
Industry	Financial services
Founded	2008
Headquarters	Nairobi, Kenya
Key people	Jennifer Riria; Group Chief Executive
Products	Loans, Checking, Savings, Investments, Debit Cards
Revenue	:Aftertax US$4+ million (KSh395.5 million (2013)
Total assets	US$220+ million (KES:21.75 billion) (2013)
Website	www.kwftbank.com

Kenya Women Microfinance Bank, formerly Kenya Women Finance Trust or KWFT, is a deposit-taking microfinance bank in Kenya,^[1] the largest economy in the East African Community.

Overview[edit]

KWFT is a medium-tier financial services provider in Kenya. As of December 2013^[update], it was the largest deposit-taking microfinance bank in the country, with an asset base valued at about US$220 million (KES:21.75 billion). At that time, the microfinance bank had in excess of 600,000 deposit accounts and a loan book of approximately US$147 million (KSh:14.53 billion), and shareholders' equity valued at US$29.5 million (KShs:2.9 billion).^[2]

History[edit]

The company was established in 2008, as Kenya Women Finance Trust (KWFT), a 100% subsidiary Kenya Women's Holding (KWH). In 2010, the institution was authorized to accept customer deposits, thereby becoming a deposit-taking microfinance institution. It changed its name to Kenya Women Microfinance Bank and became regulated by the Central Bank of Kenya (CBK). In order to comply with CBK regulations, KWH began to sell shareholding to the KWFT Board, staff, and foreign institutions. In July 2015 it sold 25% equity to 60,974 KWFT members, thereby reducing its own shareholding to the required 25% maximum.^[3]

Future plans[edit]

In 2016, print media reported that the lender had plans to expand to Rwanda and South Sudan by the third quarter of 2017.^[4]

Ownership[edit]

The shares of stock of Kenya Women Microfinance Bank are held by Kenyan and foreign institutions and individuals, as depicted in the table below:^[3]

Kenya Women Microfinance Bank Stock Ownership
Rank	Name of Owner	Percentage Ownership
1	Kenya Women's Holding Limited	25.0
2	Foreign Institutional Investors	25.0
3	60,974 KWFT Members	25.0
4	KWFT Board Members	20.0
5	KWFT Staff	5.0
	Total	100.00

Branches[edit]

The microfinance bank has branches in rural and urban areas of Kenya.^[5]

References[edit]

^ "List of licensed Microfinance Banks In Kenya". Nairobi: Central Bank of Kenya. 24 July 2015. Archived from the original on 24 July 2015. Retrieved 24 July 2015.
^ "Kenya Women Microfinance Bank Limited Audited Financial Statements As At 31 December 2013" (PDF). Kenya Women Microfinance Bank. 19 March 2014. Archived from the original (PDF) on 24 July 2015. Retrieved 24 July 2015.
^ ^a ^b Mutegi, Mugambi; Gachiri, John (23 July 2015). "KWFT Members Acquire 25 Percent Stake of Micro-Lender". Business Daily Africa. Nairobi. Retrieved 24 July 2015.
^ Ciuri, Simon (16 February 2016). "Firm eyes expatriates with Sh400,000 a month villas". Business Daily Africa. Nairobi. Retrieved 17 February 2016.
^ "KWFT Branches". Nairobi: Kenya Loans. 24 July 2015. Retrieved 24 July 2015.

External links[edit]

[1] "List of licensed Microfinance Banks In Kenya". Nairobi: Central Bank of Kenya. 24 July 2015. Archived from the original on 24 July 2015. Retrieved 24 July 2015.

[Report-2] "Kenya Women Microfinance Bank Limited Audited Financial Statements As At 31 December 2013" (PDF). Kenya Women Microfinance Bank. 19 March 2014. Archived from the original (PDF) on 24 July 2015. Retrieved 24 July 2015.

[Shares-3] Mutegi, Mugambi; Gachiri, John (23 July 2015). "KWFT Members Acquire 25 Percent Stake of Micro-Lender". Business Daily Africa. Nairobi. Retrieved 24 July 2015.

[4] Ciuri, Simon (16 February 2016). "Firm eyes expatriates with Sh400,000 a month villas". Business Daily Africa. Nairobi. Retrieved 17 February 2016.

[5] "KWFT Branches". Nairobi: Kenya Loans. 24 July 2015. Retrieved 24 July 2015.

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Central bank	Central Bank of Kenya
Commercial bank	Absa Bank Access Bank Kenya African Banking Corporation Bank of Africa Bank of Baroda Bank of India CIB Kenya Citibank NA Kenya Consolidated Bank of Kenya Cooperative Bank of Kenya Credit Bank Development Bank of Kenya Diamond Trust Bank East African Development Bank Ecobank Kenya Equity Bank Family Bank Guaranty Trust Bank Guardian Bank Gulf African Bank Habib Bank AG Zurich Housing Finance Company of Kenya I&M Bank Kingdom Bank Limited Kenya Commercial Bank Middle East Bank Kenya M-Oriental Bank National Bank of Kenya NCBA Bank Paramount Universal Bank Post Bank Premier Bank Prime bank SBM Bank Kenya Sidian Bank Stanbic Bank Standard Chartered Kenya United Bank for Africa Victoria Commercial Bank
Financial services organization	DTB Group Equity Group Holdings HF Group I&M Holdings KCB Group Kenya Mortgage Refinance Company NCBA Group
Foreign banks	Bank of China Bank of Kigali FirstRand HDFC Bank Nedbank HSBC
Defunct banks	Chase Bank Commercial Bank of Africa (Formerly part of CBA Group) Dubai Bank Kenya Euro Bank Fina Bank Giro Commercial Bank Habib Bank Imperial Bank Limited Spire Bank
Microfinance Institutions	Choice Microfinance Bank Faulu Kenya Kenya Women Microfinance Bank SMEP Microfinance Bank
SACCOs	Imarisha Sacco Society Mwalimu National Sacco United Nations Sacco Society Unaitas
Related Topics	Automated Teller Machine (ATM) ATM usage fees De-Materialisation (DEMAT) Financial services Foreign Exchange (FOREX) National Electronic Fund Transfer (NEFT) Real Time Gross Settlement (RTGS) Structured Financial Messaging System (SFMS)