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advisory
Introduction
K-Rep Group Limited is the majority shareholder in each of the subsidiary
companies (save for K-Rep Bank in which its ownership is restricted to
twenty five percent by law) that make up the K-Rep Group of Companies.
In short, K-Rep Group Limited is the holding company of all the subsidiary
companies.
The Board of Directors of K-Rep Group Limited is composed of microfinance
specialists, development specialists and public servants. [ More
about Directors ]
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Prof. Judith Bahemuka, a director, being welcomed
to the K-Rep Bank launch.
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They are responsible for overseeing the affairs of all the
K-Rep Group subsidiaries, guiding them into the 21st century and at the
same time ensuring that as it grows and expands further, the K-Rep Group
does not lose sight of its original goal: the alleviation of poverty.
Today the financial division is now known as K-Rep
Bank Ltd, the first microfinance bank in Kenya. The non-financial
services division is now K-Rep Development Agency,
the research and development arm, K-Rep
Advisory Services Ltd, the consulting and business development arm and K-Rep Fedha Services Ltd, which offers management services to Financial Services Associations.
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Profile of K-Rep Development
Agency
As mentioned before, K-Rep Holdings Limited was initially registered
as a non-governmental organization. K-Rep Holdings has now changed
its name to K-Rep Development Agency to better reflect the development
services that it will continue to provide in the Kenyan microfinance industry.
KDA is the research and development arm of the K-Rep Group and its core
activities include research, conducting monitoring and evaluating pilot
projects and to collect, store and disseminate information on small and
micro enterprises development through ARIFU,
its information centre.
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From an analysis of the lessons and experiences learnt in the
management of pilot projects geared towards poverty alleviation, those
project ideas that prove to be profitable and successful will be institutionalized
as new entities within the K-Rep Group.
Two projects that have gone on to be independent entities are the K-Rep
Bank Limited and K-Rep Advisory Services Limited. Mr. Aleke Dondo
is the Managing Director of KDA.[ More
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Mr. Dondo MD-K-Rep Development Agency, presenting signed agreement to a client. |
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Profile of K-Rep
Bank Limited
K-Rep Bank Limited was registered as a limited liability company
in March 1997 and in March 1999, it obtained its banking license.
On 23rd December 1999 K-Rep Bank successfully began its operations and
as a result of this, K-Rep Bank scored two firsts: It is, to date,
the only commercial bank in Kenya under authority of the Central Bank of
Kenya that caters to low income communities and secondly, K-Rep Bank is
the first African microfinance non-governmental institution that has transformed
itself into a regulated banking institution.
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K-Rep Bank is the financial services arm of the K-Rep Group
and provides banking services to low-income communities in accordance with
commercially acceptable principles.
The shareholders in K-Rep Bank include reputable institutions such as
the African Development Bank, International Finance Corporation, K-Rep
Group Limited, Netherlands Development Financing Company, Shore Bank, Tridos
Bank and KWA (a K-Rep Group staff association). Mr. Kimanthi Mutua
is the Managing Director of K-Rep Bank and will steer it
towards its goal of going public.[ More ]
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Mr. Kimanthi Mutua, MD – K-Rep Bank (left) receiving Financial Reporting (FiRe)Award 2006 |
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Profile of K-Rep
Advisory Services Limited
Formerly the microfinance capacity building division in K-Rep, the NGO,
K-Rep Advisory Services Limited, which was registered as a private limited
liability company on 23rd January 2001 is the consultancy and training
arm of the K-Rep Group with the specific mandate to provide consultancy
and training services in the microfinance industry all over Africa.
KAS provides a wide range of services that include institutional capacity
building, project management, enterprise support and training.
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Profile of K-Rep Fedha Services Limited
K-Rep Fedha Services is the newest subsidiary company of K-Rep Group. It was formed in the year 2005 to offer management services to financial services associations (FSAs).
Financial services associations are member based grass root financial organizations offering credit savings and money transfer services to their members who are its shareholders.
The ultimate objective of KFS in developing the FSA program is to significantly improve the access to financial services by poor people in remote rural areas of Kenya by establishing sustainable financial organizations located in the rural areas. Ms Emma Kimani is the General Manager of K-Rep Fedha Services Ltd. [More]
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