On the 17th of August 2023, German Sparkassenstiftung Eastern Africa (DSIK) together with their partner the Association of Microfinance Institutions in Kenya (AMFI) hosted a momentous signing ceremony to mark the second disbursement of their Credit Rotation Fund (CRF) in Kenya. This event celebrated the continuation of a transformative partnership designed to fortify the microfinance sector and bolster Micro, Small, and Medium-sized Enterprises (MSMEs) in Kenya.
The two fortunate recipients of the newly allocated CRF funds were Caritas Microfinance Bank and Hand in Hand Eastern Africa. The gathering was marked by an atmosphere of excitement and shared purpose as the distinguished leaders of these institutions took center stage to express their thoughts.
"The Credit Rotation Fund's primary goal is to provide low-interest loans to financially stable and compliant microfinance institutions. This injection of liquidity aims to meet the rising client demand for loans. The overarching vision is to mitigate the detrimental effects of global economic crises on businesses, ultimately fostering the growth and resilience of enterprises throughout Kenya," stated Caroline Kabui Karanja, CEO of AMFI-Kenya.
Ms. Liza Micke, Country Director of DSIK in Kenya, eloquently expressed her profound enthusiasm in collaborating with organizations as dedicated as Caritas MFB and Hand in Hand EA: "Our aim was to work with two organizations with a strong social mandate," she underscored, encapsulating the spirit of partnership that underpins this initiative.
Mr. David Mukaru, CEO of Caritas MFB, sealed the agreement with his signature. In his address, he conveyed his appreciation for being included in the second round of the CRF. He emphasized the value this initiative brings to the local community, particularly in Limuru, and highlighted the positive impact of the business games introduced by DSIK. His words, "We do not start and stop; we start and go," echo the determination to achieve enduring growth and development.
The signing of the agreement was met with resounding applause. Following suit, Mr. Albert Wambugu, CEO of Hand in Hand EA, endorsed the agreement on behalf of his organization. His words reverberated with optimism about the possibilities this partnership will unlock, and he emphasized the pivotal role of local support and collaborative learning.
The partnership between DSIK, AMFI-K, Caritas MFB, and Hand in Hand EA signifies the convergence of expertise and resources. As the CRF continues to foster financial inclusivity and sustainable progress, the stage is set for a transformative journey that promises to uplift communities and leave an indelible mark of positive change.