Faulu awarded as the leading microfinance bank of 2019

Judges at Think Business awards feted Faulu as the 2019 Microfinance Bank that saw it take home several awards.

The bank, represented by its Managing Director, Apollo Njoroge, Risk and Compliance head Grace Thiong’o, Mr Nahashon Ojode (Credit), Mr Julius Taliani (Finance), Peter Iha (Human Capital) and Retail banking head Rose Kimani also took home the second best microfinance bank in agriculture and livestock financing as well as the third best bank in product marketing.

Ms Kimani took home the lifetime achievement award in banking during the gala event held last weekend at Movenpick Hotel and Residences.

Sumak Micro Finance bank, which received a Sh2 billion loan from US-based Social Investment Managers and Advisors to boost its small and medium enterprises kitty, emerged as the best microfinance bank in livestock and agriculture financing.

Maisha Microfinance Bank that boasts of a mobile-based platform took home the product innovation category for micro-financiers.

Mr Njoroge welcomed the awards saying it was an affirmation of the bank’s concerted efforts to innovate by coming up with new products that are ‘customer-centric.’

“Faulu was in 2017 declared as fastest growing MFI in 2017’s Think Business awards. We have also won five consecutive FIRe [financial reporting] awards,” he said.

Think Business Awards have been held annually since 2006 aiming at encouraging prudence and stability within the banking industry.