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Oikocredit invests in financial inclusion, agriculture and renewable energy

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Musoni Microfinance Limited - Cashless loans for business and education

Musoni Microfinance Limited

Cashless loans for business and education

Kenya

Equity

Partners 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.

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