CBK Approves Choice Microfinance Bank’s Nationwide Expansion

CBK Approves Choice Microfinance Bank's Nationwide Expansion

The Central Bank of Kenya (CBK) has recently approved Choice Microfinance Bank Limited’s application to upgrade its status from a community microfinance bank to a nationwide microfinance bank.

This significant milestone, effective November 4, 2024, will allow the bank to extend its services to a wider range of customers across the country.

A Journey of Growth and Innovation

Founded in 2015 by Kenyans in the diaspora, Choice Microfinance Bank initially focused on serving the Kajiado North Constituency. The bank’s mission was to facilitate easier remittances and investments for Kenyans living abroad. However, a turning point arrived in 2021 when The Wakanda Network, a UK-based fintech firm, acquired a majority stake.

This strategic partnership provided Choice Microfinance Bank with fresh capital and innovative expertise. The bank has since embarked on a journey of digital transformation, leveraging technology to enhance its services and expand its customer base.

Choice Microfinance Bank Bank, under the visionary leadership of CEO Bonface Isinta Ombui, has been at the forefront of Kenya’s financial landscape.

The bank’s commitment to innovation and customer-centricity has propelled it to new heights, solidifying its position as a leading financial institution in the country.

A Digital Revolution

Choice Microfinance Bank has embraced digital transformation, introducing cutting-edge solutions to enhance customer experience and streamline operations. Key innovations include:

  • Global Payment System: Facilitating seamless overseas transactions in less than five minutes.
  • Integration with National Payment System: Enabling efficient Real-Time Gross Settlement (RTGS) transactions.

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These technological advancements have positioned Choice Microfinance Bank as a leader in the digital banking space, offering unparalleled convenience and accessibility to its customers.

A Commitment to Excellence

Choice Microfinance Bank’s core values of integrity, innovation, and customer focus drive its mission to provide exceptional banking services.

The bank’s commitment to security and transparency is evident in its adherence to regulatory guidelines and its membership with the Kenya Deposit Insurance Corporation (KDIC).

Key Features of Choice Microfinance Bank:

  • Security and Trust: Backed by the CBK and KDIC, ensuring the safety of your deposits.
  • Digital Innovation: Cutting-edge technology for a seamless banking experience.
  • 24/7 Support: Dedicated customer support available round-the-clock.
  • Competitive Offerings: Attractive deals on transactions, savings, foreign exchange, and investments.
  • Global Reach: Facilitating international transactions and investments.

Choice Microfinance Bank offers a range of financial solutions, including the popular Choice Microfinance Bank loan, tailored to meet diverse customer needs.

Customers can conveniently make transactions using the Choice Microfinance Bank Paybill Number, ensuring seamless payments. With its headquarters strategically situated, the Choice Microfinance Bank location provides easy accessibility for clients.

For enquiries or support, individuals can use the Choice Microfinance Bank contacts or reach out via the Choice Microfinance Bank customer care number, guaranteeing prompt assistance.

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Tech-savvy users can also leverage the Choice Microfinance Bank USSD code for quick and efficient banking services. The institution is committed to growth, regularly announcing Choice Microfinance Bank vacancies for professionals looking to join its dynamic team.

At the helm of operations, the Choice Microfinance Bank directors ensure strategic leadership and innovative decision-making to drive the bank’s success.

The Future of Microfinance in Kenya

With its expanded reach, Choice Microfinance Bank is positioned to play a crucial role in Kenya’s financial landscape. By providing access to affordable financial services, the bank aims to empower individuals and businesses, particularly those in underserved communities.

As Choice Microfinance Bank continues to evolve, it remains steadfast in its commitment to empowering individuals and businesses. By leveraging technology, innovation, and a customer-centric approach, the bank is set to shape the future of banking in Kenya.

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