The inaugural 2019 National Microfinance Conference started today at the University of Nairobi Chandaria Auditorium. The three day event has been organized by the Association of Microfinance Institutions – Kenya (AMFI-K). It has drawn participants from the local microfinance sector, international microfinance practitioners, national and county governments’ representatives as well as various players from the private sector.
In a speech delivered on his behalf by Nelson Gaichuhie, CAS, National Treasury and Planning, Henry Rotich, the Cabinet Secretary of the said ministry and who was the chief guest said that the government is in the process of coming up with regulations for the non-deposit taking microfinance institutions so that they can conduct themselves properly in the market. Currently, it is only microfinance banks that are regulated by the Central Bank of Kenya ( CBK). In addition, he revealed that in order to eliminate an overlap in the roles of Uwezo Fund, Youth Enterprise Development Fund and the Women Enterprise Development Fund, the government is consolidating them to Biashara Kenya Fund. On his part,
CBK Governor, Dr. Patrick Njoroge appealed to microfinance institutions to embrace effective business models and strong governance structures, besides listening to their customers and serving them with utmost attention, in order to be profitable and self sustaining.
Topical issues on microfinance are being discussed in the conference whose curtains fall on Friday. Its theme is: ‘Promoting Sustainable Development through Microfinance.’ Various members of AMFI-K are also showcasing their innovative products and services.