Microfinance Gateway>Kenyan MFIs Still Reeling from the Effects of Post-election Violence, Drought

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Home » News & Opinion » Kenyan MFIs Still Reeling from the Effects of Post-election Violence, Drought

Kenyan MFIs Still Reeling from the Effects of Post-election Violence, Drought
Ole Turana, J.

Kenyan MFIs are emerging from one of their lowest business ebbs in the last two years due to the 2008 post-election violence, a severe drought and dried fund taps from donors as a result of the global financial crisis. According to the industry players, the last two years have been the toughest for their businesses.

Lydiah Koros, the chairperson of the Association of Microfinance Institutions (AMFI), noted that the post-election chaos caught most of their clients unaware, leading to losses of their farm produce and businesses consequently affecting their ability to service their loans. The majority of the affected have not managed to go back to their previous homes and businesses affecting their ability to repay their loans.

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Posted: 01 Feb 2010
Source: Business Daily, Kenya
Originally Published: 31 Jan 2010