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A British firm has acquired a majority stake in diaspora-backed Choice Microfinance Bank that has been in losses since 2015.

Central Bank says the acquisition will strengthen the business model of Uwezo MFB and enhance the resilience of Kenya’s microfinance banking sector.

Salaam African Bank (SAB) has acquired 100 per cent stake in Uwezo Microfinance Bank that was founded 12 years ago but has struggled to post profits.

CBK Probe Maisha Microfinance Bank In Rotich Fraud Case A deal sealed by Moi-era powerful minister and businessman Jared Kangwana and embattled Ex-Treasury CS Henry Rotich in 2019 has come to haunt the duo as Central Bank closes in on investigation, Kenya Insights has learnt. In 2016, Kangwana teamed up with his associates to ; University don Beatrice Shabana, managing partner at Grant Thornton Kenya Kamal Shah and a then visiting professor at Strathmore Business School Prof Alejandro Lago to form Maisha Microfinance Bank targeting small traders. Maisha MFB became the 13th micro lender licens...

3 April by Piyumi Fonseka Sometimes a loan obtained to save a life can end up taking another life, in the debt-stricken villages of Sri Lanka. A 24-year-old mother killed her child and committed suicide two months ago due to her inability to repay a loan of Rs. 400, 000 to a micro-finance company. It is just one story out of millions of borrowers. Like more than 2.5 million other people in Sri Lanka, most of them were women; she had turned to micro credit in an effort to lift herself out of poverty. Despite microfinance loans represent only 3% of the total loan portfolio of the secto...