Scaling up microfinance products for low income people in rural areas of Kenya was our major challenge. We wanted to improve our retail capacity for micro finance services.
In 2005, we developed a Financial Services Association Model. Here, a rural community owned a financial enterprise with limited liabilities hence improved access to a range of financial services (credit, savings and money transfer) within their locality. To mobilize risk capital, Financial Services Associations (FSAs) issued shared at Ksh. 300 per share. This led to employment of 274 young people buy the end of 2005.
We experienced governance and management challenges towards the actualization of this project. To mitigate these problems, KDA implemented Management Contract Model. This led to the birth of {K-Rep Fedha Services Company} in 2007. K-Rep Fedha Services was mandated to offer oversight and management services of FSAs

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