CreditNews.ke

01/12/2022

01/08/2022

Another digital lender buys Kenyan microfinance bank %

13/07/2022

FAMILY BANK AND AQUA FOR ALL ENTER A FINANCING DEAL TO INCREASE LENDING TO MEDIUM & SMALL-SCALE WATER ENTERPRISES

Nairobi, Kenya July 13, 2022- Family Bank has signed a KES 350 million (€2.9 million) two-year partnership with Aqua for All to facilitate increased lending to medium and small-scale water enterprises supplying low-income communities with safe drinking water either through piping systems or water kiosks throughout Kenya.

Aqua for All, a foundation that specializes in innovative finance for water and sanitation, and Family Bank are targeting Community-Based Water Service Providers in order to provide improved access to clean, safe water to over 280,000 people. Community-Based Water Service Providers are organized as community-based organizations, Self-Help Groups, Cooperatives, Societies, Trusts, Sole Proprietors, Associations, Faith-Based Social projects and NGO social projects.

Speaking during the signing ceremony, Family Bank CEO Rebecca Mbithi acknowledged that access to affordable credit in the water and sanitation economy remains a challenge.

“As a Bank, we are dedicated to help scale up the financial and operational performance of water service providers and financing initiatives focused on delivering improved water supply and sanitation services to low-income homes. Together with Aqua for All, we will be able to widen our financing pool of service providers and provide access to affordable credit for Community-Based Water Service Providers that are providing piped and point services in the unserved or underserved populations,” she said.

The United Nations (UN) Sustainable Development Goal 6 (SDG 6) aims at ensuring universal access to safe and sustainable management of water and sanitation for all by the year 2030. However, the UN reports that more than two billion people worldwide lack access to safe water and sanitation.

“We consider Kenya a promising market for water and sanitation investments. However, we need to accelerate progress towards achieving SDG 6. This requires supporting scalable solutions and facilitating access to capital by unlocking private investments. Our partnership with Family Bank is an important step towards providing sustainable access to safe water and proper sanitation nationwide. By supporting community-based service providers, we can contribute to making the water and sanitation sector in Kenya more sustainable and inclusive,” said Aqua for All’s Managing Director Josien Sluijs.

This partnership will support MajiPlus, a loan facility from Family Bank that provides flexible financial solutions to individuals, micro-businesses, SMEs and Water Service Providers. In addition, Family Bank will also offer customers training materials on how to provide financing for climate-resilient projects in the water, sanitation and hygiene sector.

The signing ceremony was also attended by Pim van der Male, First Secretary, Food Security and Water, Embassy of the Kingdom of the Netherlands who lauded the partnership.

“For many years, the Government of the Netherlands has supported Aqua for All as it believes in Aqua for All’s holistic approach to bridge the service and finance gaps to accelerate access to safe water and proper sanitation for all. I am delighted to see that the partnership between Aqua for All and Family Bank is a good example of this. By mobilising private funds to invest in WASH, this partnership will contribute to achieving SDG 6 and to supporting WASH development in the country, especially at community level. Moreover, this partnership will contribute to supporting Kenya’s Vision 2030’s goal to achieve accelerated and inclusive economic growth and to realize universal access to water services,” he said.

Financing shall be provided to existing and new Community Water Projects operating in Kenya across the Bank’s 93 branches distributed across 37 counties.

In attendance were representatives from water.org, World Bank, African Guarantee Fund, Davis and Shirtliff among other stakeholders and partners in the Water, Sanitation and Hygiene Sector (WASH) sector.

-Ends-

ABOUT FAMILY BANK

Family Bank is a financial institution that prides itself in growing a strong retail customer base with a key focus in SME banking anchored on the positive transformation of people’s lives in Africa. Family Bank is the fifth-largest bank in Kenya, as of Dec 2020, in terms of branch network with 93 branches across 32 counties. The Bank has over 750,000 customers, 4,800 bank agents, over 8,000 merchants countrywide with total assets of KES 111 billion and a deposit base of KES 81.9 billion as of 31 December 2021.

Family Bank prides itself in being a digitally innovative bank having been the first bank to introduce paperless banking through smart card technology and mobile banking, PesaPap, in Kenya and the first to launch the mVisa service in Africa.

In 2021 Family Bank received two awards; Financial Communication Campaign of the Year and Overall Public Relations Campaign of the Year at the 2021 Public Relations Society of Kenya Annual Awards for Excellence for the Corporate Bond Campaign where the Bank raised KES 4.42 billion via public placement marking a subscription of 147.3%. In 2021, Family Bank was voted as the Best Overall Bank and Best Tier Two Bank for Customer Responsiveness and Satisfactory Digital Experience. Previously in 2020, the Bank was voted Best Tier Two Bank and the overall second-best bank in Digital and Customer Experience in the Kenya Bankers Association Customer Satisfaction Survey.

Other awards include Best SME Bank in Kenya at the annual Banker Africa Awards 2017, East Africa –an award initiative for financial institutions in Africa, Think Business Fastest Growing Bank Award three years in a row between 2013 and 2015 and the Think Business Best Bank in Micro-Finance Award, 1st Runner-up in 2013 and 2014.For more information about Family Bank, please visit: www.familybank.co.ke

About AQUA for All

Aqua for All is a foundation operating primarily in Africa and Asia. For over two decades, we have worked towards catalysing an innovative, sustainable and inclusive water and sanitation economy worldwide.

We believe that innovation, scalable solutions, and public and private capital are needed to bridge the service and financial gap to achieve SDG 6 – Water and sanitation for all.
We use grants to accelerate providing access to water and sanitation to low-income households and institutions. We do this by supporting innovations and scaling up enterprises until they are investment ready, without distorting the market. In addition, we use our funds to mobilise private and public capital to increase investments in water and sanitation.

We are Making Water Count!

For more information on Aqua for All, please visit: aquaforall.org

For more information, please contact:

Grace Wangari

Tim-Sky Media

Tel: +254 714 821 008

Email: [email protected]

OR

Bev Naliaka

Tim-Sky Media

Tel: +254 728 750 876

Email: [email protected]

For media inquiries in or to request an interview with Aqua for All, please contact:

Blanca Méndez, Communications Manager, Aqua for All, telephone +31 70 7200 870, email: [email protected]

14/06/2022

https://www.businessdailyafrica.com/bd/corporate/companies/why-we-sold-sidian-bank-to-nigerian-lender-at-a-loss-3846444

14/06/2022

https://www.pd.co.ke/commerce/consumers-decry-new-card-rates-132260/

09/06/2022

https://www.businessdailyafrica.com/bd/economy/cbk-set-to-regulate-financial-super-apps-3842724

The platforms host apps from different businesses including banks, airlines, and utility firms, making them popular among consumers.

12/05/2022

For a long time, the West has placed Africa on the margin of global development. Even before the COVID-19 pandemic, African countries' dependence on debt had been on the rise. Under the combined impact of the pandemic and global changes, Africa's debt risk and repayment pressure have been of great c...

10/05/2022

Equity anticipates to create at least 50 million direct and indirect jobs at the realisation of its plan.

05/05/2022

Microfinance, once hailed as a miracle cure for poverty, has become a lending system run amok –– and institutions that could help fix it are feeding the fren...

01/05/2022

THE EFFECTIVE CREDIT MANAGEMENT & SPEEDY DEBT COLLECTION SKILLS WORKSHOP, 9TH-10TH JUNE 2022 AT THE SAROVA STANLEY HOTEL,
NAIROBI, KENYA

PROGRAM OVERVIEW

“Having bumper sales may not mean having bumper profits”.
Sounds familiar?
Very often, the problem is poor credit control and debt collection. Bad debt is a part and parcel of doing business. However, with effective debt collection techniques,
it is something that can be managed and controlled to ensure the organization stays on the right track of probability.
A well trained employee in debt collection means increased cash conversions, optimal resource utilization and great return on investment but many employees find
debt collection frustrating and tough.
This 2 days high impact workshop will provide you with critical, fool-proof techniques that will help your company improve credit management and debt recovery.
Trainers will share valuable personal experiences and practical techniques in debt recovery while retaining customers’ satisfaction.



SEMINAR DETAILS

Venue: The Sarova Stanley Hotel, Kimathi Street, Central Nairobi, Kenya

Date: Thursday 9th – Friday 10th June, 2022
Course Fee: Ksh. 34,200 inclusive of 2 days attendance, buffet meals, teas, seminar kit and taxes.

Seminar Title: The Effective Credit Management & Speedy Debt Collection Skills Workshop

NITA: Participating organizations can claim reimbursement of fee paid in accordance with NITA Rules.
Pay Scheme: Organizations sponsoring 3 participants get the 4th to attend free.



COURSE COVERAGE



Module 1: Understanding company credit and debt:

Reviewing the credit cycle from application to payment
Identifying possible causes of outstanding payments
Assessing the impact of outstanding debt on your company's financial results
Identifying ways in which you can motivate your customers to pay their outstanding
Debts
Module 2: Credit Risk Assessment:

Financial Factors Affecting Credit Decision (Financial Statements: What to Look for) Probability of Default, Exposure at Default,
Loss given Default, Expected Loss
Borrowing Need and Capacity Assessment
Leverage and Coverage Ratios
Liquidity, Profitability and Activity Ratios
Cash Flow Analysis and Projections
The Z Score
Credit VaR


Module 3: Non-Financial Factors Affecting Credit Decision:

Business Environment and Industry Status
Company Vulnerability
Management Integrity, Skill & Ex*****on
Exercises and Cases


Module 4: Debt collection as a vital financial activity:

Completing debtor reports as an effective debt management tool
Setting definite and realistic debt collection targets
Comparing your debt collection results to your initial objectives
Analyzing the return-on-investment of your debt collection activities


Module 5: Planning and preparing for effective debt collection:

Preparing reports and statistics on daily collection sheets
Classifying your debtors to enable a well-targeted approach
Using the debtors classification to analyze the potential risk each debtor poses to your company
Controlling customer accounting activities
Drawing up a collection checklist to facilitate systematic collections
How do you decide whether to collect the debt by telephone or by letter?


Module 6: Mitigating Risk Assessment:

Setting the Credit Limit
Review New Accounts
Re-Evaluate Existing Accounts


Module 7: Essential telephone techniques:

Ensuring that you are sufficiently prepared before dialling the number
Understanding professional telephone procedure
Dealing with angry customers and excuses
Overcoming personal and company objectives
Turning promises into commitments to pay
Using agreed payment dates and reminders to ensure that the debt is paid
Learning how to close calls amicably


Module 8: Collection Performance and Efficiency:

Aging of Accounts Receivable and Bad Debt Reserves Analysis
Accounts Receivable Turnover and Days Sales Outstanding
Collection Effectiveness Index
Analysing Operating and Cash Cycles
Improving Working Capital Health
Bad Debt Collection
Factoring
Overdue Ratio Calculation
Discount & Prepayments


WORKSHOP STYLE

This will be a participative workshop with a mix of interactive learning sessions, exercises and discussions aimed to provide maximum
impact and learning retention for all delegates.



TARGETED PARTICIPANTS
This is a very important Seminar for all personnel who act as:-

· Credit Controllers, Managers & Supervisors

· Accounts Receivable Officers, Supervisors & Clerks

· Anyone with accounts receivable and credit collection responsibility

· Loans, Credit and Debt Managers

· Revenue and Sales Officers

· Financial Administrators

· Business Owners, Directors and Entrepreneurs

· Revenue Officers

· Sales Managers

· Customer Care Department

· Staff Members Willing To Refresh Their Credit Management Skills



PROGRAM BENEFITS

At the end of this workshop, participants will learn how to:

Deal with delaying or non-payment excuses and reduce credit exposure of difficult customers effectively
Collect from financially distressed debtors
Grasp the importance of strategic importance of credit collection management and commercial/business awareness
Master the art of collecting debts through phone and the three phases of collection call
Successfully implement a proactive and practical credit management and debt recovery strategies to address delay/non payments
Better understand different methods of collection (including negotiation) on debts
Lay groundwork to make collection efforts produce better results
Comprehend the legal perspective in debt collections and maximizing debt recovery through ligation procedures
Write effective letters, faxes and emails that are shorter, clearer and deliver desired results
Make the right decisions in credit collection and increase your organization’s Return on Investment (ROI)
Use different debt collection techniques to different situations designed specifically for your customers


To book this Course, contact Kate on +254 722 533 771



Profound Respects,

Kate Wanja,

Delight Africa Ltd,

Dev Towers - 5th Floor, Suite 5A

Biashara Street, CBD Nairobi

P.O. Box 12269 - 00100, Nairobi Kenya

Land line: +254 722 533 771 (or) +254 700 221 221

WhatsApp : +254 729 236 920
*‘**Promoting Professionalism in Corporate Training**’*

NITA Approved Trainers - No. TRN/1383



Quote of the day

"Don't wait until you're in a crisis to come up with a crisis plan." Phil McGraw

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Other Upcoming Seminars, (Course Fees Ksh. 34,200 Per P/P Per Seminar)



1. THE PEOPLE MANAGEMENT SKILLS SEMINAR, 9th-10th JUNE 2022 AT THE SAROVA STANLEY HOTEL, NAIROBI, KENYA

2. THE OUTSTANDING FRONT OFFICE/ RECEPTIONIST SEMINAR, 9th-10th JUNE 2022 AT THE SAROVA STANLEY HOTEL, NAIROBI, KENYA

3. THE ANNUAL DIGITAL, SOCIAL MEDIA SALES & MARKETINGSEMINAR, 9th-10th JUNE 2022 AT THE SAROVA STANLEY HOTEL, NAIROBI, KENYA

26/04/2022

IMF Reaches Staff Level Agreement on the Third Review of the Extended Fund Facility and Extended Credit Facility for Kenya

24/04/2022

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20/04/2022

IMF managing director Kristalina Georgieva says ‘double crisis’ from Ukraine war and Covid is ‘a massive setback for the global recovery,’ as the fund says it’s open to emergency financing for nations facing food insecurity

18/04/2022

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06/04/2022

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06/04/2022

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06/04/2022

Luxembourg and Nairobi, April 4, 2022 – The eco. business Fund has disbursed USD 10 million, approximately KSh 1.1 billion to its newest partner in Kenya, Family Bank, increasing access to finance for sustainable agricultural producers, particularly in the tea sector. This new partnership aims to ...

06/04/2022

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05/04/2022

Regulators led by the Central Bank of Kenya (CBK) have been fronting for a seamless transfer to curb the dominance of Safaricom’s mobile money service and Lipa na M-Pesa.

03/04/2022

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31/03/2022

Nairobi, March 30, 2022… Family Bank Group “the Group” has recorded a KSh 3.3 billion profit before tax for the year ended December 31, 2021 marking a 131.6 percent growth in earnings. The growth in earnings was largely driven by an increase in interest income, marginal growth in interest expe...

29/03/2022

The proportion of loans that has remained unpaid for at least three months has hit eight-month high on increased lending and a slow pace of repayments

27/03/2022

For all your one-stop credit news in Kenya and overseas please visit: www.credit-news.co.ke

21/03/2022

NAIROBI Kenya March 21- Digital lenders will now be barred from accessing customers’ contact lists in the course of debt collection under new CBK regulations. According to the Central Bank of Kenya (Digital Credit Providers) Regulations, 2022, a digital credit provider, its officers, employees, or...

20/03/2022

In an effort to help accelerate Kenya’s ongoing inclusive and resilient recovery from the COVID-19 crisis, the World Bank has approved a $750 million Development Policy Operation (DPO) that will help strengthen fiscal sustainability through reforms that contribute to greater transparency and the f...

16/03/2022

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16/03/2022

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16/03/2022

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16/03/2022

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