Central Bank of Kenya (CBK) has licensed Maisha Micro-Finance Bank Ltd, making it the thirteenth micro-finance institution in the country.
CBK said on Monday that it had granted an operating license to Maisha Micro-finance Bank Ltd to carry out nationwide micro-finance banking business in the country.
“The licence has been issued pursuant to Section 6 (1) of the Microfinance Act, 2006 and Regulation 5 (3) of the Microfinance Regulations, 2008,” the Central Bank of Kenya said in a statement yesterday said.
The regulator further revealed that Maisha MFB will be offering comprehensive Insurance Premium Financing (IPF) products as value-add alongside other Micro Small and Medium Enterprises (MSMEs) financing products.
The micro-finance institution will be referred to as Maisha MFB. Currently, there are 8 micro-finance instituions and fur community-based micro-fiance banks in the country. they all include Faulu Kenya MFB, Kenya Women MFB, Small and Micro Enterprise Programme (SMEP) MFB, REMU MFB, Rafiki MFB, Century MFB, SUMAC MFB and Caritas MFB, Uwezo MFB, U&I MFB, Daraja MFB and Choice MFB.
