Positive Achievements mark Annual General Meeting for KWFT
 The Kenya Women Finance Trust (KWFT) marked 2007 as a year of massive achievements during the just ended Annual General Meeting held on 25th October 2008 held at the KICC.
The well-attended meeting saw the participation of over 8,000 women leaders from across the country, representing the widest and largest microfinance institution network in Africa.
KWFT expanded its network from 123 offices to 142 to date, with the launch of additional regional offices in Rift Valley, Mt. Kenya West & East and Nairobi regions. KWFT therefore operates the largest microfinance network in the country and the region. In the year ended (December 2007), KWFT worked with over 200,000 clients to whom 5.6 billion was disbursed. A 100 per cent repayment rate was maintained.
 "During the year under review, KWFT recorded 227 Million as surplus before tax. This performance is attributed to staff commitment, good management and governance and a performing economy throughout 2007. This is significant achievement, which is at par with the economic growth rate in Kenya which hit a 7per cent mark", observed Dr. Jennifer Riria, KWFT CEO during the AGM.
The new team put in place within the last month and the old team tasked with the swift transformation of KWFT to a deposit taking Microfinance were introduced to the AGM and were received by all with delight
 "At KWFT, we know that women need more than money and we must continue to develop products that empower and add value to their lives and that of their families, thus increased focus on credit Plus products. For instance, the Afya Card was launched early in the reporting year. The Afya Card is a three in one micro- insurance cover that takes care of hospitalization, accident and funeral expenses. KWFT will strive to ensure that its valued customers continue to receive value adding products. KWFT is about changing the way the world works with its clients", notes Dr. Jennifer Riria, KWFT CEO.
KWFT is an equal opportunity employer whose 50% of staff, are men and 50% are women. In 2007, KWFT's staff grew to 543 up from 360 in 2006. Currently the institution has a workforce of over 800 staff who are deployed from all areas around the country. The institution remains one of the major employers in the industry.
 "We anticipate that the remainder of 2008 will be challenging especially given the dynamics of the very competitive microfinance industry and the increased interest by formal banks in the microfinance environment. KWFT is however confident that the growth momentum we have built will sustain its performance. The challenge may be compounded by the current world economic recession", observed Dr. Riria.
Present at the AGM were KWFT board members, staff, business partner, invited guests and the press. |
