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Micro finance giving lenders a stiff contest

Three months after Momentum Credit micro finance launched its Nakuru and Kisumu branches, it has been able to disburse a loan of more than Sh60million to budding enterprises in the region.

According to the microfinance chief executive officer, Mr Job Muriuki, the new branches have so far contributed 20 per cent of the company’s total sale.

The Nairobi based microfinance which is giving leading lenders in the country a good run for their money has five branches in the country. Other branches outside Nairobi include Kitengela, which was launched on Friday and Thika.

“Nakuru and Kisumu branches have broken even by recording the highest profit in the country. This means the urge for loans in the counties is very high and we hope to open more branches to uplift the lives of youth doing business,” said Mr Muriuki.

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