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funding gap emerging markets
Kenya

U&I Microfinance 6

  • U&I Microfinance
  • Invest in microfinance
  • + 650 other investors
  • Meet Maryam, a Kenyan entrepreneur who benefitted from a U&I loan. After investing in her shoe business in Nairobi, she now has the necessary income to pay for her children's education and healthcare. With an investment in U&I, you support 53 female-owned businesses like hers to grow.

    €224,000
    Amount
    5.25%
    Interest
    36 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€224,000
    Interest5.25%
    Maturity36 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 43 days on 15 August 2023.

      The project

      U&I Microfinance Bank Limited is one of Kenya's leading Microfinance banks that is enhancing people's lives through the provision of customized, all-inclusive financial solutions. U&I offers a special combination of safety and innovation in today's rapidly evolving financial services industry. The solutions provided include cash deposits, savings, and quick loans with competitive interest that help people build assets, handle crises and manage risks.

      U&I Microfinance started in 2007 as a credit-only microfinance institution. The institution embarked on empowering marginalized groups by offering them the much-desired credit.  In 2013 the bank was granted a license to operate as a deposit-taking microfinance institution, by the Central Bank of Kenya. U&I continued serving its customers excellently while abiding by the set regulations. In April 2017, the Central Bank of Kenya granted U&I Microfinance Bank a National Licence hence the conversion from community microfinance to nationwide microfinance.

      U&I Microfinance bank has served thousands of customers, introduced many new products, opened new branches, and won several awards. U&I currently has four branches in Nairobi County (Asili and Gikomba branches), Kiambu County (Thika branch), Machakos County (Matuu branch), and Head Office in Nairobi CBD. U&I is committed to building lasting relationships with customers and empowering many entrepreneurs to achieve their financial objectives. The success gotten from these financial solutions is impacting the communities by empowering women and the youth hence alleviating poverty.

       

      Use of Proceeds / Loan purpose

      With EUR 224,000 U&I Microfinance Bank will provide finance to women and youth in agribusinesses in Kenya. U&I MFB will be targeting 53 women and youth entrepreneurs/SMEs with the financing facilities expected to enable the entrepreneurs to create jobs both direct and indirect and improve the living conditions of the immediate community through enhanced food sustainability and poverty reduction. Additionally, financing of women and youth will increase financial inclusion since women and youth are alienated from mainstream banking/financial institutions thus limiting their access to credit and other financial services.

      The advanced loans will be repaid in 36 months with the average loan size being EUR 4,000. U&I Microfinance Bank will seek to offer a wide range of loan products including short-term loans, individual loans, working capital loans, and inventory loans to suit the diverse financial needs of women and youth in agribusiness. Currently, two of U&I’s branches, Thika and Matuu, focus on catering to women's and youth's financial needs in agribusiness. The bank has also adopted an expansion strategy geared towards rural areas where agribusiness is the key economic activity. Therefore, with the support of Lendahand, U&I expects to expand further into agricultural-based areas.

       

      Mission

      U&I provides micro-credit solutions to positively transform the lives of our customers and other stakeholders by offering high-quality financial services.

       

      Vision

      To be the most preferred Financial Services Provider in Kenya.

      Company nameU&I Microfinance
      CEOSimon Mwangi Ngigi
      Founded2007-01-01
      LocationNairobi
      SectorAgriculture
      Turnover€1,500,000
      Employees46
      Credit scoreA

      Impact

      U&I Microfinance Bank supports a wide range of entrepreneurs, both formal and informal, within different sectors in Kenya. U&I focuses on serving female entrepreneurs and young professionals in agricultural business in rural areas. Their loans enable job creation, working capital, and working material for underserved SMEs, allowing better living and working conditions within local communities.

       

      SDGs impacted

      With this project, you are contributing to the following Sustainable Development Goals:

      SDG 1 - No poverty

      SDG 5 - Gender Equality

      SDG 8 - Decent work and economic growth

      SDG 10 - Reduced inequalities

      Read more about the impact you can make through our platform and the SDGs on our impact page.

       

      Related blog posts

      Read more about U&I and the impact they make in their introduction blog post, click here.

      • With this investment 53 jobs are created
      • With this investment 265 lives are improved

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      We have already contributed to U&I Microfinance 6

      Jeroen Rust
      Jan de Wit
      Esther Landaal
      André Kloosterman
      benedicte verzier
      + and another
      650
      investors