Das Projekt

U&I Microfinance Bank Limited is one of Kenya's leading Microfinance banks that is enhancing people's lives through the provision of customized, all-inclusive financial solutions. U&I offers a special combination of safety and innovation in today's rapidly evolving financial services industry. The solutions provided include cash deposits, savings, and quick loans with competitive interest that help people build assets, handle crises and manage risks.

U&I Microfinance started in 2007 as a credit-only microfinance institution. The institution embarked on empowering marginalized groups by offering them the much-desired credit.  In 2013 the bank was granted a license to operate as a deposit-taking microfinance institution, by the Central Bank of Kenya. U&I continued serving its customers excellently while abiding by the set regulations. In April 2017, the Central Bank of Kenya granted U&I Microfinance Bank a National Licence hence the conversion from community microfinance to nationwide microfinance.

U&I Microfinance bank has served thousands of customers, introduced many new products, opened new branches, and won several awards. U&I currently has four branches in Nairobi County (Asili and Gikomba branches), Kiambu County (Thika branch), Machakos County (Matuu branch), and Head Office in Nairobi CBD. U&I is committed to building lasting relationships with customers and empowering many entrepreneurs to achieve their financial objectives. The success gotten from these financial solutions is impacting the communities by empowering women and the youth hence alleviating poverty.

Use of Proceeds / Loan purpose

With EUR 224,000 U&I Microfinance Bank will provide finance to women and youth in agribusinesses in Kenya. U&I MFB will be targeting 53 women and youth entrepreneurs/SMEs with the financing facilities expected to enable the entrepreneurs to create jobs both direct and indirect and improve the living conditions of the immediate community through enhanced food sustainability and poverty reduction. Additionally, financing of women and youth will increase financial inclusion since women and youth are alienated from mainstream banking/financial institutions thus limiting their access to credit and other financial services.

The advanced loans will be repaid in 36 months with the average loan size being EUR 4,000. U&I Microfinance Bank will seek to offer a wide range of loan products including short-term loans, individual loans, working capital loans, and inventory loans to suit the diverse financial needs of women and youth in agribusiness. Currently, two of U&I’s branches, Thika and Matuu, focus on catering to women's and youth's financial needs in agribusiness. The bank has also adopted an expansion strategy geared towards rural areas where agribusiness is the key economic activity. Therefore, with the support of Lendahand, U&I expects to expand further into agricultural-based areas.

Mission

U&I provides micro-credit solutions to positively transform the lives of our customers and other stakeholders by offering high-quality financial services.

Vision

To be the most preferred Financial Services Provider in Kenya.