Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Faulu is changing how it assesses SME borrowers who lack traditional security for loans. A new merchant platform will help businesses consolidate their income records for credit assessment. The lender is introducing flexible repayment arrangements to match different business revenue cycles. Small and medium sized enterprises (SMEs) that own no land or vehicles to pledge…
Kenya’s Micro, Small and Medium Enterprises (MSME) sector is staring at a severe credit crunch, with experts warning that the country faces a KSh3.3 trillion funding gap that threatens the survival and growth of the sector. Financial institutions are currently providing only a fraction of the capital required to sustain operations, raising fears about the…
Faulu Microfinance Bank has secured more than KSh 900 million from its parent company, Old Mutual, to enhance its operations and revamp its business model for sustained growth. The company plans to utilize the funds to expand its digital banking services and to realign its distribution channels and human resources to promote sustainable growth. Faulu…
