Century Microfinance Bank has received $1 million (Ksh.100 million) loan from Micro Enterprise Support Program Trust (MESPT) to increase its capital base.
The capital injection will be used to enhance productivity for farmers and build capacity for micro, small and medium-size enterprises (MSMEs).
“This partnership will go a long way in helping us unlock the vast potential that lies in the businesses and farmers within the agricultural sector using the value chain financing approach. Through our program, Century Microfinance is giving farmers grow their businesses, get better prices for their produces and get rid of brokers who have been exploiting the farmer. Ultimately we will see the lives and livelihood of the farmers improving,” said Century Microfinance Bank CEO Reuben Kimani.
Century Microfinance Bank Limited (“Century”) is a Microfinance institution which has been in operations for the last 7 years and specializes in providing financial services to Micro, Small and Medium Businesses.
The institution works with farmers across various sectors, dairy, and livestock, horticulture and aquaculture. The company has funded around 14800 farmers since inception.