Mwananchi Credit Limited has embarked on a national wide rollout targeting a branch in all 47 counties.
This is to further widen the net of credit access to thousands of Kenyans especially in the additional product line of Title Deed Loans.
The Nairobi-based microfinance firm currently has three branches in Nairobi, one each in Kitengela, Thika, Mombasa, Eldoret and Kisumu.
The expansion drive will be driven by a branch-per-country strategy that will see microfinance deepen its presence in all 47 counties.
Some of the regions the firm is prioritizing include the Mount Kenya region (Meru, Embu and Nyeri), Western region ( Kakamega, Bungoma and Kitale), Nyanza region (Kisii, Homa Bay and Migori) and Rift valley region ( Nakuru and Naivasha).
Speaking during the countrywide rollout strategy meeting, the company’s CEO Dennis Mombo said they want to have offices closer to customers in a bid to enable them to access a wider array of our services.
Mwananchi Credit is one of the leading logbook loan providers in the country. It has, however, diversifies its product offering to include title deed loans, salary check-off loans, import financing and asset finance.
Last month, the firm launched a new product line: Rental Income Loans to help house owners cover unpaid rent by tenants whose earnings have been cut short by Covid-19.
Mwananchi Loans lending model utilizes an innovative future-earning capacity credit score that qualifies applicants based on their future plans and ability to repay rather than their past financial history.