Financial services

Financial Services

Financial institutions such as Banks, Microfinance Deposit-taking Institutions (MDIs), Micro Finance Institutions (MFIs) and Savings and Credit Co-operative Societies (SACCOs) exist in many African countries with the aim of providing access to finance. However, financial exclusion still remains a key challenge in Africa leading to extreme poverty and preventing inclusive growth. This is largely due: long distances from the formal financial service providers; banking products and services that are either complex or not designed to meet the needs of all;  lack of regular income to pay for the financial services; lack of trust in financial service providers; religious practices that demonize loan-taking; illiteracy of the populations; lack of access to communication services; lack of the required formal documentation; among others.

To address some of these challenges, KISHU Associates works with various players in the sector through: facilitating financial institutions in developing innovative and affordable products and services that align to the context of Small and Medium Enteprises (SMEs); demystifying to SMEs the complex financial products on the market and providing linkages to available financing sources that match their needs; building the capacity of SMEs to make them investment-ready and attractive to financing sources; providing outsourced governance services to SMEs to give assurance – to the financing sources – of the adequate business and financial oversight; training investment brokers on how to effectively link farmers and SME owners to various sources of financing, among others.