Fortune Credit Limited, established in 2014 as a credit-only Microfinance Institution, focuses on empowering the rural population in Kenya through accessible savings, credit, and insurance services. With a current client base of over 15,000 individuals across 10 counties and a Gross Loan Book of USD 3 Million, they are dedicated to investing in the aspirations of the base of the pyramid population.
Their mission is to accelerate access to innovative financial products and services that drive economic and social impact. Fortune Credit measures their success through improved incomes, resilience, and sustainability among the target population. With their activities, they aim to transform the lives of 5 million individuals. Operating as a social enterprise, their vision is to be the advocate for social-economic and ecological prosperity of the people of Africa.
In Kenya, micro, small, and medium enterprises (MSMEs) often struggle with understanding the complexities of traditional financing, reliance on established practices, and inflexible financing models from traditional financial institutions. Existing financial products also often fail to capture the full value chain of these industries. Fortune Credit recognizes this market’s needs and seeks to address it by providing customized financial and investment solutions, capitalizing on the growth potential of semi-formal industries.
Through their mission-driven approach and vision for promoting social, economic, and ecological prosperity, Fortune Credit strives to make a lasting impact in the lives of individuals and contribute to the overall development of communities across Kenya.
General information
| Borrower | Fortune Credit Limited |
| Country | Kenya |
| Head office | Nairobi |
| Website | https://fortunecredit.co.ke/ |
| Founded | 20 August 2014 |
| Active on Lendahand since | 1 August 2023 |
| Credit Score | 2.71 |
Financial information per 2023-03-31
| Portfolio Overview | €2,616,165 |
| Leverage ratio | 34.00% |
| Write-off ratio last 12 months | 0.00% |
| % investment amount in arrears (>90 days) | 4.90% |
About Kenya
Kenya is a country in Eastern Africa. Kenya is the world's 48th largest country by area. With a population of more than 47.6 million in the 2019 census, Kenya is the 29th most populous country in the world. As of 2020, Kenya is the largest economy in Eastern Africa and the third-largest economy in sub-Saharan Africa after Nigeria and South Africa. Key economic sectors in the Kenyan economy include the service sector, the agricultural sector which contributes 33% of Kenya’s gross domestic product, and the manufacturing sector.
Last funded project
KenyaFortune Credit 5
Cooking with biogas is a significant advancement for families in small villages in Kenya. Fortune Credit offers low-income families loans to purchase a biogas digester. This device transforms manure into affordable, 100% renewable energy. Your investment in Fortune Credit enables 60 families in Kenya to cook with bi...Continue reading