List of Top Microfinance Institutions in Kenya

Stacy Ambani

Many Kenyans do not have bank accounts. Those who have bank accounts either have little or no savings. This makes it hard for them to access loans from the banks. For this reason, Microfinance Institutions in Kenya play a crucial role.

Microfinance Institutions offer small (micro) loans to customers who can not access conventional financial aid from banks. The nature and functioning of these institutions vary depending on the purpose and targeted groups. Some institutions are based on gender and strictly offer microfinancing services.

Although they are an alternative to banks, some operate as extensions of large investment banks. By doing this, people living in under-developed regions can access the banks’ funding through these Institutions run by the banks.

List of Microfinance Institutions in Kenya

Here is a list of Microfinance Institutions operating within Kenya,

1. Kenya Women Finance Trust (KWFT)

KWFT is one of the oldest and most popular in Kenya. The Central Bank of Kenya licensed the institution to operate in 2010. Currently, it is the largest Deposit-taking microfinance institution in Kenya.

With over 600,000 customers and 231 branches nationwide, KWFT offers savings and loan services to all women and girls. It stands to be one institution that has embraced Mobile Money in Kenya, as customers can make deposits through Mpesa.

You can reach KWFT on their line at 0703067700 or at You can also write a letter through their postal address, 4179-00506, Nairobi, or physically visit their office headquarters at Akira House in UpperHill Nairobi or any branch nearest you.

2. Faulu Microfinance

Faulu is another big deposit-taking microfinance institution. Currently, it is the leading institution when it comes to giving microloans. Faulu has branches scattered all over the country to access customers. Also, with Faulu, customers can deposit their accounts through Mpesa.

Loans from Faulu are easily accessed. The loans are processed within 24 hours, and the interest rates are amicable. One can perform transactions on Faulu at any Faulu branch, Faulu agent, or ATM within the country.

Faulu headquarters is located along Ngong Lane, off Ngong Road in Nairobi.

3. Choice Microfinance Bank Limited

This is one of the biggest Community-based Microfinance Institutions. The Choice headquarters is located in Rogai Kajiado county. The institution offers services such as loans and savings.

Choice Microfinance’s savings include the Faidikeni Fixed deposit and the Asset Mali accounts. Just like Faulu, you can make deposits on Choice through Mpesa.

Choice Microfinance started linking people in the diaspora with local investment opportunities. This was through providing small business loans that locals could use to create small business enterprises.

4. Uwezo Microfinance Bank

Uwezo Microfinance provides both loans and savings services. The institution offers short-term loans at flexible interest rates. Uwezo aims to create wealth and improve living standards for individuals, small groups, or SMEs.

Farmer loans from Uwezo are the best option in the market for those who want to venture into agriculture.

5. Musoni Microfinance Institution

This is one of the youngest Institutions on the market. The letter “M” in Musoni stands for Mobile since it is centered around Mobile banking. Currently, it stands as the most paperless Microfinance institution on the market.

With Musoni, there are no hidden charges when registering. The loans are processed within 72 hours and deposited into your account on loan applications.

6. Rafiki Microfinance Bank

Rafiki Microfinance is one f the few MFIs that offer diaspora banking, savings, and loan services. This institution provides affordable asset finance and loans for chamas and SACCOs.

Rafiki MFI offers the best loans through the Kilimo Biashara account for agriculture. Below are Rafiki’s MFI contacts.

7. Momentum Credit

This is a new MFI on the market. The institution was founded in March 2017 but had a vast customer base steadily increasing. Momentum Credit aims to provide the overwhelming demand for capital to SMEs and individuals.

8. Century Microfinance Bank

Just like other MFIs, Century offers saving and loan services to customers. However, this MFI specializes in agribusiness loans.

Deposits to Century are made through Mpesa, and customers get the loans directly to their accounts within a brief period.

These institutions provide the youth with opportunities to achieve financial freedom. However, I advise that you should strictly use the money borrowed from MFIs for the intended purpose, income generation. This is because the borrowed money has to be repaid at interest.

Conditions For Microfinance Institutions In Kenya.


Different Institutions use different criteria to determine those eligible for funding. In most cases, eligibility is based on gender and age. This means some microfinance Institutions offer loans to special groups such as underprivileged women.

To access such services, one must be a Kenyan citizen of 18 years and above. They will also assess your ability to repay the loan and remain an institution customer.

Interest rates

In most cases, interest rates on Microfinance loans are based on a flat rate. However, some loan interests are calculated on a decreasing balance. A majority of the Institutions insist on a monthly repayment system.

The Interest on the loan varies between 30% and 40% for loans not exceeding Ksh.500,000 for loans above Ksh. 500,000, and the interest rates extend up to 70%.

Credit scoring

Most of them do not have a system for analyzing credit scores. However, some insist that you must have an operational business for about three months and some cash in your account to get the credit. You must also provide a good business plan and have at least one guarantor.

Many Microfinancing Institutions use mobile money services such as Mpesa to ease customers’ access to credit. Also, the use of mobile transactions helps minimize cases of fraud within the institutions.


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Stacy Ambani is a Kenyan writer who helps people build wealth through investments and finance. Stacy has worked as a content writer for various online publications and is currently an editor and writer for a financial
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