About KWFT
about
Brief History of KWFT
Women Lawyers, Bankers, Financial Experts, Entrepreneurs, Managers and
Trainers got together in 1981. Their vision was to set up a financial
Institution devoted to addressing solely financial needs of women.
In fact, their specific objectives was to set up a woman serving, woman
led bank.
These women of great resolve contributed Kshs. 2,000 (US$25) for those
who had better income and called themselves “Founder Members”.
Those who had moderate incomes contributed Kshs. 500 (US$6.25) and were labeled
“Associate Members”. There was yet another category of ordinary members
who paid Kshs. 250 (US$3.125). Instead of a bank , they established a “Trust”
because of the challenges posed by the banking regulations and requirements.
KWFT has come a long way to be what it is today: a Kenyan success story.
The Institution – Kenya Women Finance Trust Limited is unique in Kenya.
It is the largest and only micro-finance Institution exclusively for women.
It is built on the belief that women can transform their lives, those of
their families and the way the world works through entrepreneurship.
Kenya Women Finance Trust has grown from small beginnings in 1981 into
an Institution with 100,000 members from seven of Kenya's eight provinces.
The Institution had achieved overall sustainability by
March 2002. Since then, the Institution has continued to consolidate
its break-even status and to post profits that are ploughed back into the
Programme to grow the portfolio.
In its early days, KWFT depended substantially on donor grants to finance
both lending funds and administrative expenses. Since 1994,KWFT
began borrowing from other NGOs and the financial sector for incremental
capital. By march 2003 60% of the outstanding portfolio was financed by
funds borrowed from commercial sources locally and internationally.
The Ford Foundation as a social investor was the first in this category
to support scaling up strategies for KWFT through a US$3 Million loan under
the Programme Related Investment Facility.
From the year 1996, all Programme Administration costs were covered
by Internally generated income.
KWFT Staff has also grown with the Programme and the Institution from
6 in 1992 to 310 by December 2005.
KWFT Structure
KWFT Objectives
1. Access credit to the largest number of women entrepreneurs.
2. Promote savings mobilization among members.
3. Continue to develop and maintain a strong membership base.
4. Maintain mutually beneficial relationships with funding partners
and other Institutions.
5. Become a self-sustaining Institution.
6. Maintain a cost-effective asset portfolio.
7. Provide relevant and sustainable non-financial services to members
and clients of the Trust.
8. Linkage with Formal Financial Institutions
9. Develop strategies for positioning the Institution in the financial
Market.
10. Provide relevant information for empowerment of and service
to women.
11. Enhance the Trust's Image nationally and internationally
12. Enhance the Security and returns of the Trust’s funds.
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