On September 23, 2024, KWFT hosted the Ministry of Finance of the Republic of Ghana, alongside key stakeholders from the Bank of Ghana, ARB Apex Ghana, GHAMFIN, Credit Unions Association, and Ghana Savings and Loans Association. The visit was part of a benchmarking program organized by the African Confederation of Cooperative Savings and Credit Association (ACCOSCA), which aims to strengthen microfinance institutions across Africa through learn-and-share exchange programs. The delegation was received by KWFT’s Ag Managing Director, Kariuki Kitabu and senior leadership management.
This delegation’s visit was driven by the government’s efforts to reduce economic vulnerability and income inequality in Ghana as outlined in their National Financial Inclusion and Development Strategy (NFIDS). Through the development of a Microfinance Policy, Ghana seeks to streamline microfinance operations and address the barriers preventing underserved populations from accessing financial services.
The visit provided an opportunity for the Ghanaian team to receive an insightful presentation on Kenya’s microfinance landscape. Key areas covered included the impact of government policies on KWFT’s service delivery, regulatory compliance with financial reporting standards, and customer service and consumer protection initiatives. The presentation also highlighted KWFT’s innovative products and services as well as the institution’s strong relationship with the Association of Microfinance Institutions in Kenya (AMFI), showcasing how these collaborations contribute to KWFT’s success.
This knowledge-sharing visit underscores the critical importance of SDG 17 (Partnerships for the Goals) which highlights the need for cooperation between governments and private sectors to drive sustainable development. Through initiatives like these institutions can share knowledge, align on best practices and strengthen financial systems to promote financial inclusion and also support the broader goal of reducing income inequality. These collaborations reflect how institutions can collectively address challenges, enhance governance and deliver impactful solutions to underserved communities across Africa.