What you need to know:
- The branch, which was opened in Kisii County, is the second one in Western Kenya after the Kisumu branch.
- The CEO urged the business community in Kisii to apply for business loans.
Momentum Credit, a micro finance company, has opened its 11th branch.
The branch, which was opened in Kisii County on Friday, is the second one in Western Kenya after the Kisumu outlet.
“Kisii is a critical commercial centre in Western Kenya and this new branch will serve the neighbouring Nyamira and Homa Bay counties. Our research has revealed that Kisii County receives a lot of diaspora financial support and we want to spur the economic development of the region," said Momentum Credit Micro Finance Chief Executive Officer Job Muriuki on Friday.
“After Kisii, our next stop is Meru County which will be opened before the end of the year. We target large commercial zones in the country to alleviate poverty and create jobs for the youth," added Mr Muriuki.
Other Momentum branches are in Nairobi, Thika, Nakuru, Kitengela, Mombasa and Eldoret.
Mr Muriuki said banana and sugar cane farmers in the Kisii region are set to benefit from the new branch.
He revealed that the growing number of unemployed youth in Kenya calls for immediate financial solutions and that is why Momentum is targeting the youths.
"At Momentum, we believe the present belongs to young people and that is why we want to engage more youths by creating an environment that would give them hope after the coronavirus pandemic disrupted the lives of millions of youths,” said Mr Muriuki.
He added: "I'm assuring young people who want to make their careers successful in Kisii, Nyamira and Homa Bay, counties that we shall give them financial support to start business ventures."
The Kisii branch will employ 15 youths and the number is expected to double by the end of the year.
Mr Muriuki said that the uptake of the loans in Kisii, Nyamira and Homa Bay counties will result in the creation of more job opportunities for the residents.
The CEO urged the business community in Kisii to apply for business loans.
"I urge the residents to apply for the loans to uplift their standards of living," said Mr Muriuki.
"We have insurance premium financing where we assist car owners to pay comprehensive cover at the same rate they pay for the third party policies at a period of 11 months," he added.