On 25th and 26th September the Association of Microfinance Institutions of Kenya (AMFI-K) hosted FINCON 2024 themed ‘Enhancing Financial Inclusion – Bridging Economic Opportunities and Outcomes’. This brought together key players in the microfinance sector for a vibrant discussion on advancing financial inclusion and addressing the economic disparities in Kenya. The event, held at the Central Bank of Kenya Institute of Monetary Studies, saw the participation of local and international stakeholders, including financial service providers, investors, government regulator and development partners.
AMFI-K Chairman, Oscar Murigi presided over the conference. In attendance were AMFI-K CEO, Caroline Karanja and AMFI-K Board among them being KWFT Ag. Managing Director Kariuki Kitabu. Other esteemed guests were Ronald Inyangala, a representative from the National Treasury and Economic Planning, Amb. Gunnar Andreas Royal Norwegian Embassy in Nairobi. Other partners present included Kenya Development Corporation (KDC), Water.org, AGF, FSD Kenya and KMRC.
At the core of the discussions was how financial services can directly impact the most vulnerable communities, enabling access to credit, savings, insurance and other essential financial products. With the challenges faced by those at the bottom of the pyramid in mind, the conference addressed the role of innovation and digital platforms in creating opportunities for these individuals, while also emphasizing the importance of financial literacy programs. These programs aim to equip marginalized communities with the knowledge and skills to fully engage in both traditional and digital financial ecosystems.
Mr. Kariuki Kitabu, was a keynote speaker. In his address he highlighted KWFT’s innovative framework and its grassroots-level approach to microfinance, emphasizing how KWFT’s tailored financial services have uplifted the economic well-being of women, families, and entrepreneurs across Kenya. His speech also showcased KWFT’s continuous efforts to ensure that the most underserved communities have access to life-changing financial products.
The conference concluded with an inspiring address by Hon. Susan Mang’eni, Principal Secretary of the State Department of MSMEs, who reiterated the government’s commitment to supporting microfinance institutions as an essential vehicle for raising livelihoods at the grassroots. She acknowledged the crucial role that microfinance plays in empowering MSMEs, which in turn contributes to the country’s overall economic growth.
The key takeaway from the event was the necessity of combining innovation with targeted inclusion strategies to create a financial ecosystem that can withstand future challenges while promoting economic resilience for Kenya’s most vulnerable citizens.