NAIROBI, Kenya July 12-Momentum Credit – a non-deposit-taking financial institution, has opened its 13th branch in Embu County in its expansion drive aimed at increasing the country’s financial inclusion.
Speaking during the launch, Momentum Credit’s Chief Executive Officer Job Muriuki declared Momentum’s intention to support Embu residents realize social and economic development by unlocking access to structured, credible and transparent financial solutions supporting business growth and improving living standards.
“Agriculture contributes to 33 per cent of the Gross Domestic Product (GDP) and another 27 per cent indirectly through linkages with other sectors. With this sector employing more than 70 per cent of Kenya’s rural population, it is incumbent upon us to support Embu – a largely agricultural county improve its resident’s liquidity. This in turn drives inclusive economic growth, job creation and poverty reduction,” he said.
Muriuki noted they have purposely redefined their market approach transitioning from a financial lender to a solution provider enabling Kenyans; access liquidity, own motor vehicles at a significantly lower cost compared to prevailing market rates, afford vehicles through Motor Import Financing and acquire Insurance Premium Financing
“The 2022 expansion drive is geared towards improving proximity to clients – driving convenience and supporting economic recovery post the COVID-19 pandemic.”
According to the World Bank, financial inclusion is a fundamental cornerstone to development – driving the realisation of Kenya’s Vision 2030 and attainment of Sustainable Development Goals (SDGs).
With only 40 per cent of Kenyans accessing bank credit – economic development, business expansion, employment and consumption power are compromised.
