KENYA: Church Opens Bank Targeting Vulnerable Groups

NAIROBI JUNE 19, 2015(CISA)-The Catholic Archdiocese of Nairobi has opened a new bank meant to reach out to the vulnerable groups by offering them affordable credit.

Caritas Micro-finance Bank (Caritas MFB) plans to reach out to slum dwellers, single mothers and people living with HIV/Aids among other vulnerable groups, reported Waumini news June 18.

Speaking during the launch, John Cardinal Njue of the Catholic Archdiocese of Nairobi said that the youth and women groups would be the core customers as well as Micro and Small Enterprises, specifically Church-based organizations.

“We will be offering these groups affordable loans,” said Cardinal Njue at Cardinal Otunga Plaza in Nairobi.
During the launch, Caritas Nairobi was further issued with a license to operate nationwide by the Central Bank of Kenya.

Caritas MFB becomes the twelfth microfinance bank (MFB) to be licensed in Kenya.

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