Musoni Microfinance Limited - Cashless loans for business and education
Musoni Microfinance Limited
Cashless loans for business and education
EquityPartners in which Oikocredit has taken an equity investment.
Musoni Kenya is a microfinance institution (MFI) providing financial services through mobile payments. The company was established in 2009 as the first 100% mobile payments MFI in the world, completely cashless. The name ‘Musoni’ consists of m for ‘mobile’ and the Swahili word usoni which means ‘future’.
Musoni targets unbanked clients in Kenya. The current geographical focus is urban and semi-urban but they are expanding into rural areas, building on their low-cost service model. They opened three branches in rural areas in 2014.
Musoni provides group loans, individual business loans, agri-business loans, emergency loans and education loans. In 2014 Musoni had more than 15,000 active borrowers.
Musoni has been an Oikocredit partner since 2015.Download this project as a PDF