Erick Massawe, Watu country manager Kenya(left) and Andrii Volokha, Watu general manger East Africa.

Watu Credit Kenya and Uganda have been awarded a client protection certification in recognition of their long-standing commitment to client protection by the Microfinanza Rating (MFR) certification committee.

The two subsidiaries of Watu Credit were awarded bronze level customer protection certification, marking a significant milestone as the first financial institution in Kenya and the third in Africa to achieve this accolade.

Commitment to client protection

This recognition affirms Watu’s commitment to upholding  rigorous standards, ethical business practices and  compliance with various client protection regulations. The certification further underscores the firm’s   commitment to standards outlined in the Cerise+SPTF methodology as well as the universal standards for social and environmental performance management.

In his remarks, Andrii Volokha, general manager for East Africa region at Watu expressed gratitude for the recognition. “We are privileged to have been awarded this certification, which is a vote of confidence for our customers and investors,” said  Volokha. “ This recognition highlights our commitment to our customers’  welfare and reinforces our reputation as a trusted asset financing provider,” he added. He  further   reassured     investors that  they   have aligned their   systems and practices to adhere to the globally accepted client protection standards.

Watu was certified on key parameters of client protection services, key among them being: transparency, appropriate product design and delivery, privacy of client data, governance and human resources, responsible pricing, prevention of indebtedness, fair and respectful treatment of clients, as well as mechanisms for complaint resolution.


 Volokha   noted    that  with    a  high   compliance rate  across indicators including transparency, fair and respectful treatment of clients, prevention of over-indebtedness, responsible pricing, appropriate product design and privacy of customer data,  the  firm  has   solidified its   position as a model of integrity within the asset financing business. Since its launch   in 2015, Watu has served over 500,000 clients in Kenya and Uganda.   

Client protection

The MFR certification committee is approved to conduct client protection certifications under the Cerise+SPTF framework. MFR, a leading certifier, seeks to improve practices in  financial  inclusion. The client protection pathway is the global home for all stakeholders to committ to ensuring that financial products and services do not harm clients. 

The certification framework includes three levels: gold, silver and bronze, with certifications valid for three years. To achieve a bronze level certification, financial service providers must meet specific criteria outlined in the client protection pathway, such as compliance with entry-level indicators and score  at least 65% on all   indicators. 



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