Categories News

KWFT PLANTS 2000 TREES

Kenya Women Microfinance Bank (KWFT) staff in conjunction with Kenya Forest Service (KFS) and local community members of Kimakia united to rehabilitate a section of Kimakia forest in Murang’a County. In this re-forestation exercise 2,000 trees of different indigenous species were planted on April 27, 2023. Kimakia forest is a home to a variety of wildlife and forest species.

KWFT took part in the activity in efforts towards increasing Kenya’s forest cover which has served generations with many environmental benefits, beautiful canopies as well as a habitat for Kenya’s renowned diverse wildlife. Kenyan forests have been degraded over time, mainly emanating from human activities such as logging, charcoal burning and human settlement causing severe drought and environmental degradation. To revitalize its landscapes, Kenya has committed to increase its forest cover with 15 billion trees by 2032 to achieve 30% tree cover.

As such preservation of the environment calls for sustainable activities that protect natural resources by reducing waste, energy consumption and pollution from all stakeholders. In response to SDG 6: Affordable and Clean Energy and SDG 13 on Climate Action, KWFT has been intentional in offering eco-friendly products as well as financing for businesses whose operations are environmentally conscious.

KWFT is committed to continue contributing to the noble agenda of restoring natural resources and it was honoured to partake the exercise with Kenya Forest Service and the community of Kimakia.

Categories News

YALE UNIVERSITY VISITS KWFT

On March 15, 2023 KWFT was delighted to host 32 MBA students from Yale University Connecticut, USA who were on a study tour, accompanied by their Professor Kevin Donavan and Jolly Christine. The tour was based on their interest in the Kenyan Economy.

The study tour began with a mentorship session by the KWFT Managing Director, Mwangi Githaiga who presented on Kenya’s financial landscape, KWFT strategic direction, structure, operations and its contribution to the Kenyan economy. There were great conversations about how KWFT supports Kenyan women (residing in the rural areas) to access credit to grow their businesses sustainably. This was supported by a conversation of KWFTs selection of portfolios and how the institution is able to address women economic empowerment, inclusion and gender equality. 

The team then embarked on a field visit to meet and interact with some KWFT customers in Kandara, Makuyu and Goliba areas within the Nairobi North region.

In Kandara, the team was excited to attended a group meeting and got oriented to understand and appreciate the group lending methodology. This was an insightful meeting as it defined KWFTs model of social collateral which enables women to access credit. In Makuyu the team visited an avid poultry farmer who shared her journey that has been nurtured and financed by KWFT. The business woman normally rears over 30,000 chicken and supplies to Kenchic thus making her business very marketable. The visit ended with a delightful visit to a farm in Goliba owned by a KWFT beneficiary who offered insights on her thriving horticultural business. 

KWFT was delighted to host the Yale University students for the mentorship session to impact knowledge to students on practical and scalable solutions offered by Microfinance.

Categories Uncategorized

CONGRATULATORY ANNOUNCEMENT – SFI CATALYST AWARDS 2021

It is with great excitement that KWFT announces its victorious win in the prestigious SFI Catalyst Awards 2021 ceremony which was held on Wednesday 21st, September 2022, at the Radisson Blu Hotel in Nairobi. The ceremony was well attended by key stakeholders from the financial sector, government, private as well as the non-governmental organizations and presided over by Martin Ochieng, Chairperson, UN Global Compact Network Kenya & Group Managing Director of Sasini Plc.

The Awards, pioneered by the Kenya Bankers Association (KBA) in 2015, offer Institutions a unique opportunity and platform to showcase their industry leadership and their role towards promoting sustainable development, under the guide of Sustainable Finance Initiative (SFI) principles.

The SFI Catalyst Awards 2021 were highly competitive attracting 43 entries from 16 financial institutions. The awards involved a series of questions that required institutions to demonstrate their approach and value proposition in various topics.

KWFT is proud to have won in the following categories:

  • Promoting Gender Inclusivity – Overall Winner
  • Best Overall Award – Position 3

In addition to this award and many other recognitions, KWFT’s trajectory has demonstrated its dedication towards uplifting women in the society. KWFT has rewritten the narrative of women’s involvement in financial matters and it has passed the bar when it comes to women in societal development.

From the onset KWFT has provided women with both financial knowledge and convenient options to financial aid to transform their lives. The journey to financial inclusivity has already yielded commendable results and KWFT is committed to continue being among Kenya’s change makers.

Categories Business

2022 Ring the bell for gender equality & KWFT signing of the women empowerment principles

KWFT is delighted to have attended the successful annual Ring the Bell ceremony in honor of celebrating the International Women’s Day which was held yesterday 8th March 2022 at the Pride Inn Azure Hotel in Westlands, Nairobi.

As a current trend, the Stock Exchanges around the world are hosting a bell-ringing ceremony to raise awareness for gender equality.

The Nairobi Securities Exchange (NSE) worked alongside the UN Global Compact, UN Women and International Finance Corporation (IFC) for the 8th consecutive year to organize the initiative. This year’s theme was “Gender equality today for a sustainable tomorrow”. The celebration aims at recognizing the contribution of women and girls around the world, who are leading the charge on climate change adaptation, mitigation, and response, to build a more sustainable future for all.

The event was well attended by esteemed players in both the government and the private sectors, they included: Hon. Keriako Tobiko, CS, Ministry of Environment and Forestry, Geoffrey Odundo – Chief Executive – Nairobi Securities Exchange (NSE), Ms. Judy Njino -Executive Director – Global Compact Network Kenya, Ms. Rose Lumumba – Manager – IFC Kenya, Ms. Rukaya Mohammed, Country Deputy Representative, UN Women, and other Key Stakeholders.

KWFT was delighted to receive a cordial invitation to give a key address, where the KWFT Managing Director, Mr. Mwangi Githaiga highlighted KWFT’s milestones achieved towards Women Empowerment based on the seven principles, this culminated into KWFT officially signing the Women’s Empowerment Principles (WEPs) and witnessed by the esteemed dignitaries, making KWFT the only women’s bank in Africa to be a signatory. This was a hallmark of KWFT’s commitment to promoting gender equality.

The Women’s Empowerment Principles (WEPs) was established by UN Global Compact and UN Women to offer guidance to company’s on how to promote gender equality and women’s empowerment in the workplace, marketplace and community.

In addition, KWFT’s Managing Director, Mr. Mwangi Githaiga was also a key participant in a panel discussion where they discussed imperative matters on promoting gender equality and improving access to finance and market.

This event fortified the pivotal role that KWFT plays in supporting women to achieve the Sustainable Development.

Categories Business

KWFT joins the United Nations Global Compact Network

KWFT is delighted to be the first Microfinance to join the United Nations Global Compact Network as part of the Institution’s ongoing efforts to work collaboratively with like-minded partners to advance sustainability and support the delivery of the UN Sustainable Development Goals (SDGs). The launch event was held on 12th October 2021 at the KWFT Centre yesterday.

The UN Global Compact has grown to be the world’s largest corporate sustainability initiative and global movement of more than 13,000 businesses across 160 countries and works to accelerate and scale the collective impact of businesses by upholding the Ten Principles on Human Rights, Labour, Environment, and Anti-corruption as well as delivering the SDGs.

The Network will give KWFT a platform to showcase its journey in transforming the lives of its customers as well as learn best practices from other Network Members. The Institution commits to align its operations and strategies with the Ten Principles into its corporate strategy, value systems, culture, and operations.

In addition, KWFT will diligently keep track of the progress and share its successes with the rest of the Network Members, enhance its participation in the sustainable business and development space as well as position the Institution on social impact.