Inaugural East Africa Chama Awards

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Press Release

On Tuesday 16th December, Rafiki Microfinance Bank awards the Best Investment Groups in East Africa at Safari Park Hotel, Nairobi from 6.00 pm to 10.00 pm. With the theme ‘Power of Many’, the Chief Guest Speaker is Mr. Bob Karina, Vice Chairman of Nairobi Securities Exchange and Chairman of Faida Investment Bank. Guest speakers include Mr. Zaf Khan, Chairman, Chase Group, Mr. Linus Gitahi, Group C.E.O Nation Media Group, Mr. Alex Muema, C.E.O Ndatani Enterprises Ltd and other distinguished guests.

Rafiki Microfinance bank boasts of a fast growing customer base of over 10,000 in regards to groups and is now branded as ‘the home of investment clubs’. The institution which morphed from a Deposit Taking Microfinance to a Microfinance Bank earlier in the year, recently marked its 3rd year anniversary in July. The focus of the East Africa Chama Awards is to highlight the evolution of investment groups and recognize the role these groups play in the mobilization of resources and national development. This is important in enabling the nation achieve its Vision 2030 and foster regional development.

“Today’s occasion affirms our commitment towards capacity building; a value entrenched in our core business goals. To attain socio-economic freedom, one requires rich financial literacy to make sound financial decisions. This is why we hold trainings on quarterly basis to add value to what your Chama does,” says Mr. Daniel Mavindu, C.E.O, Rafiki Microfinance Bank. Currently, there are estimated over 300,000 groups, which collectively hold a combined asset base of over Kshs 300 Billion in Kenya. This is a vibrant indication of their contribution towards the country’s GDP (gross domestic product) through pooling of resources in sectors such as trade, real estate, agribusiness and transport, The awards are an indication of the bank’s commitment to creating opportunities that give the youth such flexibility on matters of credit access and has created a platform of profiling investment groups as drivers of our economy.

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