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Developing education finance products for Faulu
MSC supported Faulu Microfinance Bank when Faulu wanted to improve access to quality education for low and middle-income households. MSC supported Faulu in terms of strategic planning, market research, product development, and business intelligence reporting. MSC supported training initiatives for Faulu MFB. The engagement resulted in Faulu MFB refining its products and developing institutional capacity. Faulu grew its educational finance portfolio with over 7% of the institution’s retail, individual, and SME portfolio focused on education as on September 2018.
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Faulu Microfinance Bank (MFB) decided to improve access to quality education for low and middle-income households, through strengthening and expansion of its educational finance portfolio. MSC supported Faulu MFB on strategic planning, market research, product development, and business intelligence reporting – with a target on relationship officers and risk management.
Our engagement resulted in Faulu MFB successfully refining its products. Faulu developed its institutional capacity and grew its educational finance portfolio. As of September, 2018, over 7% of the institution’s retail, individual, and SME portfolio is towards meeting the education finance needs of their clients and schools in Kenya.