In this episode of the KBA CEO Chat, Caritas Microfinance Bank CEO David Mukaru talks about what it takes to improve access to credit for MSMEs, including the importance of formalization and registration and using a data-driven approach to determine creditworthiness. David speaks of the challenges institutions face when lending to small businesses, such as poorly formed business plans and lack of separation between family finances and business finances. He closes the episode touching on how microfinance institutions leverage customer service, social collateral, and a savings culture to grow the Kenyan SME space.
Audio Production by Ally Mwakaneno Gakweli – Business Writer & Podcast Host, Hisa Technologies
Snippet Artwork by Muteti Munyambu – Hisa Technologies