Mwananchi Credit LTD Countrywide Expansion.
Mwananchi Credit LTD well known for its logbook loans to businesses and individuals has rolled out a new initiative to have branches and offer services easily in all 47 counties.
Currently, the Nairobi based micro-finance has branches in Nairobi, Kitengela, Thika, Kisumu, Eldoret, and Mombasa. The micro-finance is now targeting to have a branch in all 47 counties with an aim of increasing its customer base and widening its credit facilities to thousands of Kenyans.
The expansion drive will be based on a branch-per-county strategy gradually having a presence in all the 47 counties.
The Mount Kenya Region (Meru, Embu and Nyeri), Western Region (Kakamega, Bungoma and Kitale), Nyanza (Kisii, Homa Bay and Migori) and Rift Valley (Nakuru and Naivasha), are the organization’s priority for the start.
Mwananchi’s main aim of expansion according to its CEO is to have its offices closer to its customers to make their access to its wide array of services easier.
As Mwananchi Credit LTD expands, its adding Title Deed Loans to its products. It’s also diversifying to offer salary check-off loans, import financing and asset finance.
In May 2021, the firm launched its newest product: Rental Income Loans to help business owners in the rental business cover unpaid rent amidst revenue/income loss during the Covid-19 pandemic.
Mwananchi’s lending system is quite different from other lenders as it looks at the borrower’s future ability to repay the loan other than their repaying history and has been awarded for its innovative lending style.
