Custom financial products and services meet the unique needs of Kenyan families. Core to Opportunity Kenya’s product strategy is to adopt both qualitative and quantitative methods of increasing its knowledge about the clients it serves, resulting in intentionally targeted products and services that anticipate and respond to changing needs. After conducting surveys to understand the evolving needs of Kenyan families, Opportunity Kenya modified the Trust Group loan product, reviewed the terms of the new Individual loan product and began crafting a tailored Agricultural loan product.
In 2011, Opportunity Kenya partnered with Habitat for Humanity to develop a home improvement loan to allow clients with a good credit history to make repairs to improve deteriorating and unsafe structures.
Expanding to increase outreach. In addition to plans to open three new offices in 2012, Opportunity Kenya intends to grow outreach by establishing service locations in unserved peri-urban areas as well as small field offices that can be manned by staff from nearby branches. The increased presence will help Opportunity Kenya increase outreach in poor communities, which will be further bolstered with technology like mobile phone banking and smart cards to deliver services affordably and efficiently.
Financial Literacy Training. New customer financial literacy training modules were launched in September 2011 at Opportunity Kenya’s five Nairobi-area branches. These new trainings were facilitated by the Kenya Institute of Business Training. Clients participated in a full-day session on business management and financial skills which was met with widespread positive feedback. Opportunity Kenya is also partnering with Citi Foundation to develop training DVDs covering personal and business growth topics.
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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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