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The microfinance sector in Kenya is one of the most developed sectors in Africa. However, there is still a large unfulfilled demand for microfinance products. Altogether, there are 24 big microfinance institutions in Kenya. Kenya is also regulated by the (Companies Act ).. == Existing regulations== The banking system in Kenya is regulated by the Companies Act, the Banking Act, and the Central Bank of Kenya Act. In addition, there are several prudential guidelines that currently exist. The responsibility for monetary policy and the banking system is held by the Central Bank of Kenya, which also releases information about interest rates, banking guidelines, and the financial institutions.〔Center for financial inclusion: Summary of Client Protection in Kenya. http://www.accion.org/Page.aspx?pid=1419〕 The Kenyan Microfinance Act was adopted in 2006 and became active in 2008. With the adoption of this act, institutions could apply for microfinance licenses at the Kenyan Central Bank either as a national or community institution.〔Curtis, Lori: Microcapital story: Kenyan Microfinance Trade Association Puzzled as Only Two MFIs Participate in New Friendly Regulation. http://www.microcapital.org/microcapital-story-kenyan-microfinance-trade-association-puzzled-as-only-two-mfis-participate-in-new-friendly-regulation/〕 Furthermore, these institutions must be registered as: *deposit-taking institution *non deposit-taking institution *informal organization (supervised by an NGO)〔Mfi upgrading initiative : Kenya. http://mfi-upgrading-initiative.org/000001985b0d93482/00000198660ae2e07/032d539c050945b02/index.html〕 The four steps of approval for a microfinance institution are: *Approval of name *Application for license *Letter of intent *Issuance of license〔Kenya Central Bank: The A-Z of licensing a deposit taking microfinance institutions. http://www.centralbank.go.ke/downloads/bsd/appforms/MFI/A-Z%20of%20Licensing%20a%20DTM.pdf〕 == Existing institutions providing microfinance products == There are 24 larger microfinance institutions in Kenya, which provided 1.5 billion US dollars to approximate 1.5 million active borrowers in 2010. According to their gross loan portfolio, the five largest institutions are: *Equity Bank: has a market share of 73.50%, a gross loan portfolio of 924,993,804 Kenyan Shilling and 715,969 active borrowers to whom they offer 10 different products. *KWFT: has a market share of 12.06%, a gross loan portfolio of 152,136,208 Kenyan Shilling and 334,188 active borrowers to whom they offer 6 different products. *K-Rep Bank: has a market share of 6.39%, a gross loan portfolio of 74,182,292 Kenyan Shilling and 82,000 active borrowers to whom they offer 5 different products. *Faulu: has a market share of 3.56%, a gross loan portfolio of 39,643,494 Kenyan Shilling and 102,371 active borrowers to whom they offer 6 different products. *Jamii Bora: has a market share of 0.86%, a gross loan portfolio of 9,568,460 Kenyan Shilling and 79,194 active borrowers to whom they offer 6 different products.〔Data are taken from the websites of the institutions, http://www.mftransparency.org/data/countries/ke/ and http://www.mixmarket.org/mfi/country/Kenya〕 Those 24 institutions offer business loans on a large scale, specific agriculture loans, education loans and loans for any other purpose. Additionally there are: *emergency loans, which are more expensive in respect to interest rates, but are quickly available *group loans for smaller groups (4-5 members) and larger groups (up to 30 members) *women loans, which are also available to a group of women Most of the microfinance institutions offer business loans under different interest rates, loan lengths and loan amounts. With 101,334 clients, Equity Bank has the largest share of business loans. With 50,000 clients, K-Rep Bank is the second largest institution, followed by Jamii Bora as the third largest bank for business loans and servicing 37,400 clients. Specializing in loans for women, the KWFT (Kenya Women Finance Trust) holds by far the largest market share, with loans to 334,188 clients. The educational loans market is fairly narrow which can be observed by the major player’s client base: KADET services only 220 clients, followed by the Kenya ECLOF (211 clients), SISDO (202 clients), and the Adok Timo (173 clients). The same is true for asset finance loans. The Equity Bank has the largest market share (2,853 clients) and Family Bank the second largest (2,000 clients) in asset financing. Out of approximately 40 million Kenyans, about 14 million are not able to receive financial service through formal loan application services, and 12 million more Kenyans have no access to financial service institutions at all. Further, one million Kenyans are reliant on informal groups for receiving financial aid.〔Mfo upgrading initiative : Kenya. http://mfi-upgrading-initiative.org/000001985b0d93482/00000198660ae2e07/032d539c050945b02/index.html〕 == Conditions for microfinance products == *Eligibility criteria: the general criteria might include gender (as in the case for special women's loans), to be at least 18 years old, to have a valid Kenyan ID, have a business, demonstrate the ability to repay the loan, and to be a customer of the institution. *Credit scoring: there is no advanced credit scoring system and the majority of lenders have not stated any official borrower requirements. However, some institutions require having an existing business for at least 3 months, have a small amount of cash, provide the institution with a business plan or proposal, have at least one guarantor, or to attend group meetings or training. For group loans, almost half of the institutions require group members to be guarantor for each other. *Interest rate: they are mostly calculated on a flat basis and some at a declining balance. More than 90% of the institutions require monthly interest payments. The average interest rate is 30-40% for loans up to 500,000 Kenyan Shilling. For loans above 500,000 Kenyan Shilling, interest rates go up to 71%.〔Market Data. http://www.europe-to-china.com/about-us/download/〕 == Key microfinance market challenges == *Political issues: Corruption is a major problem in Kenya. In 2010 Kenya ranked 154th (out of 178) on the International Corruption Index.〔Transparency International: Corruption Perception Index 2010 Results. http://www.transparency.org/policy_research/surveys_indices/cpi/2010/results〕 *Furthermore, the lack of transparency leads to uncertainty of effective regulations and acts. Additionally, political riots, especially during elections in 2007, have led to violence and, therefore, to economic disturbance. As a result, the Portfolio at Risk rate increased during the riots during the elections in 2007.〔Mfi upgrading initiative : Kenya. http://mfi-upgrading-initiative.org/000001985b0d93482/00000198660ae2e07/032d539c050945b02/index.html〕 *Infrastructure issues: Despite the economy having risen at a real growth rate of 4% in 2011, banking infrastructure remains weak and requires significant investment in staff, facilities, and technology.〔Mfi upgrading initiative : Kenya. http://mfi-upgrading-initiative.org/000001985b0d93482/00000198660ae2e07/032d539c050945b02/index.html〕 *Consumer issue: As a result of standardized products without considering customer requirements, many customers are dissatisfied with the terms and wish to have more individual loan conditions. For group loans, for example, many clients dislike guaranteeing for each other, because they might not know the other clients well enough. Other clients have complained about time-consuming, weekly meetings and training with trainers who are often too young and inexperienced. This is especially a cultural problem for older clients, who feel offended by taking advice from younger people.〔Hospes, Otto; Musinga, Muli; OngÕayo, Milcah: An Evaluation of Micro-Finance Programmes in Kenya as Supported through the Dutch Co-Financing Programme. http://www.gdrc.org/icm/country/Kenya-finalreport.pdf〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Microfinance in Kenya」の詳細全文を読む スポンサード リンク
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