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Good News from Microfinance Institutions during this Covid-19 Crisis
The Association for Microfinance Institutions (AMFI) is a member-based organization that was established and registered in 1999 under the societies Act, with the aim to build the capacity of the Kenyan Microfinance Industry. In her 22 years of existence, AMFI`s membership has increased from the original 5 founder members to the current 59 fully paid up members in 2022. Adoption of the Alternative banking channels (ABC) have made the provision of financial services easier, affordable and time saving. This has promoted the accessibility of the services especially by the low-income people in the rural and marginalized areas. The vision 2030 identified microfinance sub sector as key in ensuring every Kenyan is bankable by 2030.This has seen the government intensify the financial inclusion campaign through creating funds for the microfinance sector in the National budget, establishment of funds like women and youth and also developing legislation to promote micro and small enterprises (MSMEs). The Association of Microfinance Institutions-Kenya has made good progress and ambitious strategic decisions and policies since its inception 20 years ago.
To champion the aspirations of microfinance institutions through advocacy, capacity building, networking and linkages and research.
To be the network of choice that promotes a conducive environment for microfinance providers in Kenya.
To enhance collective action by its members and other stakeholders for an enabling policy and regulatory environment for the microfinance industry in Kenya.
To strengthen the capacity of MFIs in delivering appropriate and sustainable microfinance services to low income people, through organization and coordination of workshops and trainings
Networking and Linkages
Provide regular platforms for her members to enhance effective collaboration among themselves and with other development actors and relevant stakeholders.
Research and Knowledge Management
To provide members with timely and quality research and information that help underpin the policy and advocacy agenda, and facilitate industry product design.