Transform Lives in Kenya with Microloans

 
$610
$390
Raised
Remaining
Jun 7, 2012

Measurable Impact in Kenya

Joyce Njoroge, an Opportunity Kenya loan client
Joyce Njoroge, an Opportunity Kenya loan client

Measurable Impact: Side by Side in Kenya

Opportunity Kenya currently serves clients via 12 branch locations. With hard work from the dedicated staff, Opportunity Kenya increased client outreach by 20% and maintained a client repayment rate of 98% despite a very challenging economic environment. Additionally, Opportunity Kenya maintains an encouraging client retention rate of 86%. Eager to continue reaching out to marginalized communities, the Kenya staff is making plans to add three additional offices in 2012.

Opportunity serves clients with four loan products customized to meet the unique need of Kenya’s hard-working
entrepreneurs:

  • Msingi Loans are six-month loans tailored to meet the needs of the micro and small entrepreneurs and used  as working capital as well as for purchasing business assets. 
  • Nguzo Loans are loans for small and medium scale entrepreneurs who require larger loan amounts. 
  • Somesha Loans finance school fee loans and are available to active clients who have serviced at least one of the Msingi or Nguzo loan cycles.

Opportunity Kenya provides loans through Trust Groups. Loans come with credit-life insurance to provide a
safety-net in case of tragedies that threaten to derail progress made. In response to growing demand, Kenya launched a pilot in 2011 to test Individual lending to meet the needs of entrepreneurs whose businesses are growing and require larger loans with more flexible repayment rates and customized training.

Plans for 2012 include:

  • Opening three to four field offices, starting with one outside of Kitengela.
  • Introducing two new products that are transformational, rather than income generating: loans for water harvesting and storage, which will improve sanitation and health; and loans for solar-powered lighting, which will decrease reliance on expensive and environmentally damaging kerosene.

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Funded

Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.

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Organization

Project Leader

Dana Lunberry

Partner Relationship Specialist
Oak Brook, IL United States

Where is this project located?

Map of Transform Lives in Kenya with Microloans