CBK Publishes Microfinance Institutions Licensed in the Country

Central Bank of Kenya (CBK) has published a list of microfinance institutions which are licensed to operate in the country.

In a notice dated Wednesday, April 24,it was noted that the licensed institutions were only 14 covering both those categorised 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.

Licenced institutions;

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, 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 mandated to licensed such institutions.

According to the Microfinance (Deposit-Taking Microfinance Institutions) Act, CBK is expected to publish a list of all licensed microfinance institutions every year.

Below is the list of the licenced institutions;

Faulu Microfinance Bank Limited.