Social Issue

Although Kenya’s economy ranks first among East and Central African economies, 36.9% of the population lives below the international poverty line of $1.90 a day, according to World Bank data. Most of the poor people in Kenya live in rural areas, mainly in the northeast of the country.

Our Response

Microloans are a powerful tool to give opportunities to the poorest communities to face day-to-day problems due to not having enough resources.

Musoni was founded in 2009 and has the goal of providing microfinance services through mobile payments. It is the first microfinance institution in the world that is operating without cash and paper, and it also aspires to be the first in which all its activities are carried out electronically, including the provision of credits, thanks to its computer system.

Its mission is to enhance the economic activities of people with low incomes and without access to bank accounts by providing financial services that are affordable and strongly oriented to the needs of their clients. Musoni offers individual loans (45% of its portfolio) and groups (50%). It has recently introduced its first digital loan representing 4% of its portfolio.

Expected Social Impact

With this investment of the Netri Foundation, it is estimated that Musoni will be able to provide 2,700 microloans to people who live mainly in rural areas so that they can maintain their businesses and thus reduce poverty caused by the lack of economic opportunities.