To our esteemed stakeholders,
I take the opportunity to extend my heartiest greetings and wishes to you and your family.
Last year was an eventful year with unique challenges, accomplishments, experiences and recognitions for KWFT. The passion and commitment of our able employees enabled us to earn the good will of all our stakeholders.
Some significant milestones achieved last year include the much anticipated sale of KWFT shares to clients through the Customer Share Ownership Plan (CSOP). We successfully completed the sale of 25% stake of Kenya Women Holding shares in KWFT to clients thereby completing the Divestiture plan. This is a great investment opportunity for our clients as they now have an opportunity to benefit from loans and also participate in the dividend of the company when it is declared. The oversubscription of the shares was not only a sign of confidence by our clients but that of undying support and loyalty.
Another milestone was that of partnering with our clients to take banking services to their doorstep through the Agency Banking Business Model whose pilot program is still ongoing. In addition the Institution was crowned as the 2014 Second Best Company To Work For in Kenya, following a survey conducted by Deloitte.
In a bid to give back to the community, the Institution in conjunction with its staff donated over Sh13 million to the Education Fund Programme dubbed ‘Capture the future’ established to support needy and bright girl’s to continue their education after completing primary school. KWFT also donated sh1 million to the Beyond Zero Campaign spearheaded by Mrs Margaret Kenyatta, the First Lady of Kenya , which supports the great initiative of reducing maternal and child mortality rate, which also saw over 100 staff participating in the marathon.
The Institution was adorned with several accolades such as the Best Microfinance Bank in East Africa during the 2014 Think Business Banking Awards, Best Microfinance Institution during the Nairobi International Trade Fair, and in 7 major ASK Shows of various Counties. Our clients were not left behind as they were also acknowledged during the CMA 2014 Awards having won various awards that included Gold, Silver and Bronze. We were also able to grow our loan book to Ksh 19.46 billion and deposits to Ksh 17.26 billion.
In this New Year we have renewed hopes and vigor to excel in this competitive business environment by offering innovative products and services that offer solution to our clients and maintain high standard of excellent customer service. We have an opportunity to reinforce our resolve to carry our dreams and achievements to the next level. KWFT will continue to make a difference to the society, while providing substantial returns to our customers, employees, and stakeholders.
Lastly, I would like to appreciate every stakeholder for making us achieve great success over the years. Your loyalty and commitment has continued to be a great motivator for us to serve you better. I am equally grateful for the leadership of the Board Chair and the Board of Directors for their visionary leadership.