REPORT OF DIRECTORS
The Board of directors of K-Rep Group present their report together
with the audited financial statements for the year ended 31 December 2005.
STATUS
The K-Rep Group Limited is a registered company limited by guarantee
and without share capital, and also registered under the Non-Governmental
Organisations Co-ordination (NGO’s) Act.
The company serves as a catalyst for empowering low-income people, encouraging
them to participate in the development process, and enhancing their quality
of life. Its goals are to generate employment and increase incomes
by expanding financial services to poor people.
ACTIVITIES
The company primarily:
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Conducts research which involves identification and testing of innovative
microfinance products and systems for the purpose of expanding financial
services to poor people particularly those in rural areas;
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Provides loans to qualifying entrepreneurs and organisations for the purpose
of extending financial services to the people;
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Provides capacity building services to develop other organisations in various
aspects of micro finance development and management.
CURRENT PROJECTS
K-Rep is currently engaged in the following microfinance
projects which are at various stages of development:-
:-The Financial
Services Association (FSA) Project:- FSAs
are rural savings and credit organisations owned, financed and managed
by low-income village members (meaning current residents or people who
come from the village);
:-Smallholder FAHIDA: A
Savings and Credit Project FOR hiv/aids infected and affected persons:-
This pilot project accesses credit and savings services to HIV/AIDS infected and affected persons to enable them start or expand their micro enterprises and small scale farming activities.
:- Low Cost Housing Finance:- A
pilot project to develop mechanisms through which financial and building
technology services can be combined to assist low-income people in acquiring
affordable shelter and increase their assets through home ownership;
:- Youth Savings and Credit
Scheme:- A pilot project that accesses credit
to adolescent girls (16-22 years of age) living in slum areas of Nairobi
to start micro-enterprises;
:-Microleasing Project:- A pilot project to enable low-income smallholder farmers acquire productive assets as one way of improving smallholder farm productivity and thus, farmer income.
