Reflecting on the year 2011

As the figures and statements captured in 2011 annual report suggest, the mission of partnering with women in their creation of wealth is still the reason for KWFT  existence. As an institution, we have targeted the low income and the financially excluded women and their families in the rural, remote and per-urban areas of this country.  We have developed a wide range of quality and innovative products and adapted our services through the use technology including mobile banking and ATM for the convenience of the families we partner with. With an extensive nationwide geographical coverage and our client connectedness approach, we’ll work to leverage on all these opportunities as we move into 2012. 

The past year presented challenging times especially for an institution like KWFT  that seeks to reach the families where they are. It seemed clear that the country had entered an area of fiscal constraint that is likely to last into some time in 2012.  Despite the economic pressures that almost resulted into modest financial performance, the institution continued to address issues that are important to the clients’ savings and credit needs through its product portfolio in business, agriculture, education, health and sanitation as well as clean and renewable energy. Salaried women were also able to access loans from KWFT. 

The savings product portfolio remained focused on addressing specific needs of our clients for instance investing in the future of the children, encouraging clients to develop a consistent savings culture and saving for a fixed duration towards a goal as well as the regular account usage. The products also geared towards bringing women together for investment and for nurturing savings culture among the investment group members. In the process, the institution which had 2000 employees reached over 450,000 families using its 221 offices spread countrywide. 

Despite the challenges, KWFT effort in pursuing its developmental mission did not go unnoticed. Several accolades fell on the institution including WWB Excellence in Leadership Award for financial and social transparency; Africa Microfinance Recognition Award for commitment to development and vision in reaching those at the bottom of the pyramid by demonstrating social impact and financial transparency; KRA Distinguished Tax Payer Award and  Outreach and Impact Award by Oikocredit for our increasing sustainability, impact and outreach to the financially excluded women and their families in Kenya. Such achievements could only be attributed to the clients’ partnership and loyalty, to which we say “Hongera akina Mama”.  

As an institution, we intend to remain focused on improving the livelihoods of our target market and ensure sustainability through effective and efficient operations. Fortunately with the expected regulations that will allow use of our unit offices to offer all our services, the clients can only expect better times with a repositioned institution as a safe place to save. 

MWANGI GITHAIGA

MANAGING DIRECTOR

 

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