Kenya Women Finance Trust Records 532 Million Kenya Shillings After Tax Profit
 The year ended (December 2008), saw KWFT work with over 238,000 clients to whom 9.1 billion was disbursed with a maintenance of 98per cent repayment rate.
"The institution has progressed positively recording a 532 Million profit after tax up from 220 million which is a 240 per cent increase in surplus", notes Dr. Jennifer Riria, KWFT CEO. This was announced during the institution's 28th Annual general meeting held at the KICC.
"In 2009 KWFT plans to disburse Kshs 15 billion through its national network comprising of 167 field offices countrywide. Already, 5.7 billion has been disbursed by end of May this year and with a clientele of 298,325.
The AGM hosted over 12,000 women who are group leaders from their respective areas. In the current year, KWFT organized its operations under 3 geographical zones; Western Zone, Central Zone and Eastern Zone and expanded its network in the country from 142 offices to 167. This expansion facilitated opening of additional offices in South Rift-Kericho, South Nyanza- Kisii, North Coast- Malindi, Lower Eastern- Emali, and Nairobi North- Thika. KWFT operates the largest microfinance network in the country today.
"At KWFT, we know that women need more than money thus our continued efforts to offer credit plus products. Last year, 9,085 Insurance products to cover medical services for our clientele and their families were applied at a cost of Kshs 36 million, water harvesting solutions for 57 million, LPG for 189 million and Stima loans for 8 million. This is KWFT's objective to have the rural poor women and their families access products that improve their lifestyles. This empowers and adds value to the lives of our clients", notes Dr. Riria.
KWFT is an equal opportunity employer of whom 50% of staff are men and 50% are women. In the reporting year - 2008, KWFT's staff grew to 914 as compared to 522 in 2007. Currently the institution has a workforce of 1,303 staff. KWFT employs staff from all areas around the country, and the institution remains one of the major employers in the industry.
"We anticipate that the remainder of 2009 will bear fruits for the institution as we are in top gear with the transformation of KWFT to a deposit taking microfinance. We look forward to our clientele passing the adoption of changing the company name to Kenya Women Holding Limited. The holding company will stick to its core business , that is empowering women as well as give advisory services.
The Deposit Taking Microfinance company will assume the role of providing financial services. We will strive to ensure that our valued customers continue to receive the trade mark unique products / services for which we are renowned. We also appreciate and are confident that the growth momentum we have built will sustain our performance despite the challenges compounded by the world economic credit crunch", the CEO observed.
KWFT has the largest national micro-finance network with a capacity of accessing sustainable financial and non- financial services to economically active, low income women entrepreneurs, and with deep rural penetration, making it the best choice for the majority. It is for this reason that all products and activities are designed for women entrepreneurs to improve their social and economic status and those of their families. KWFT serves women in both urban and rural areas through its National network of 167 offices.- Profit after tax for the year ended December 2008 amounted to KShs 532 million representing a 240 % increase over the previous year.
- Loans outstanding as at end of December 2008 amounted to KShs 7 billion, a growth of 184% from the previous year's position.
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