🏦 Company Overview

Name: Rafiki Microfinance Bank Ltd
Established: June 14, 2011 (spun out from Chase Bank) (jambodaily.com)
Type: Licensed Deposit‑Taking Microfinance Bank (regulated by CBK under the Microfinance Act 2006, amended 2013)
Headquarters: Rafiki House, Biashara Street, Nairobi, Kenya

Mission & Vision

• Vision: To be The Leading Microfinance Bank in Innovative Financial Solutions (co.ke)
• Mission: To support the growth and development of individuals, communities, and MSMEs through providing integrated innovative financial solutions (co.ke)

Core Values

• Open‑Mindedness
• Teamwork
• Respect
• Professionalism
• Responsibility & Accountability
• Integrity
• Dependability
• Customer-Centricity

Market Position & Reach

• Size & Ranking: Third-largest microfinance institution in Kenya (co.ke)
• Branches: 19 branches across 11 counties, including key locations like Westlands, Mombasa, Nakuru, Eldoret, Kisumu, Kitengela, and Machakos (co.ke)
• Customer Base: Over 150,000 customers served, with more than KSh 5 billion disbursed in loans (co.ke)

Target Market & Segments

Focused on serving the economically active low-income demographic — predominantly youth, farmers, salaried and self-employed individuals, startups, self-help groups, and investment clubs (rafikibank.co.ke). Rafiki addresses the “missing middle” – micro-enterprises that are too large for SACCOs but too small for commercial bank products (rafikibank.co.ke).

Core Products & Services

💼 Savings & Transaction Accounts

• ❖ Personal, Current & Business Accounts: Catering to individuals, entrepreneurs, and SMEs
• ❖ Digital Access: Internet banking, mobile banking, ATM (Visa), agency banking (co.ke)

📐 Loan Products

• Asset Finance: Up to 90% financing for motor vehicles, boda-bodas, tractors, with insurance premium finance (com)
• Housing Loans: Prebuilt homes, land purchases, renovations—with dedicated relationship officers (com)
• Business Loans: Working capital loans with flexible collateral, accompanied by business education (com)
• Agribusiness Loans: Financing farm inputs, equipment, value-chain liquidity, for crops and livestock (com)

💳 Additional Services

• Money Transfers & Trade Finance
• Foreign Exchange (Forex)
• Bancassurance
• Mobile App (“Rafiki Mkononi”) for seamless 24/7 banking (co.ke)
• Rafiki-Biz App: A fintech tool for small businesses to record transactions and manage cashflow (co.ke)

Strategic Positioning & Partnerships

• Strong emphasis on relationship banking — tailoring solutions based on individual customer needs, especially for youth entrepreneurs (co.ke)
• Strategic alliances with AMFI-K and Water.org for customer growth and integration of water & sanitation financial products (co.ke)

Leadership & Governance

• Chairman: Daniel Mavindu (co.ke)
• CEO (as of March 2021): CEO role held by Ken Obimbo (since 2015), succeeded by acting CEO Paul Karanja Macharia (appointed April 1, 2021) (com)
• CEO Search: An executive headhunter was engaged in 2021 to find a substantive CEO (com)
• Board Members: Including Joseph Njuguna (MD), Stephen Mugwe, and Aggrey Jonathan (co.ke)

Social & Economic Impact

• Empowering over 150,000 underserved Kenyans with credit, savings, and financial tools
• Emphasis on youth entrepreneurship and bridging gaps in agri, housing, energy, health, and education sectors (co.ke)

Outlook & Future Focus

• Continues digital transformation with mobile app enhancements and fintech solutions (e.g., Rafiki Mkononi, Rafiki-Biz)
• Seeking strategic investor(s) to replace Chase Bank’s shareholding and strengthen capital base (co.ke, businessdailyafrica.com)
• Actively pursuing CEO recruitment to reinforce leadership continuity

Summary

Rafiki Microfinance Bank is a well‑established, CBK‑licensed institution dedicated to empowering underserved micro-entrepreneurs, particularly youth, through tailored financial products, digital accessibility, and strategic partnerships. Despite past financial and legal challenges, it remains robust with extensive branch networks and innovative services, positioning itself as a key catalyst in Kenya’s inclusive economic growth.