Yehu Microfinance Trust has today joined the MYC4 platform as a new provider. Yehu is located in the coastal region of Kenya and provides financial and other support services to rural social-economically marginalized entrepreneurs.
Yehu was founded back in 1998 and is one of the larger MFIs in the Kenyan coastal region with over 20,000 clients. Its head office is located in Mombasa, Kenya’s second largest city. 80% of Yehu borrowers are women, mostly based in rural areas in the region (only two of its 7 branches are urban). Yehu is a unique institution that has been courageous enough to operate against challenges of poor infrastructure, low literacy levels, and a poor economic environment of its clientele.
The partnership with Yehu brings a number of new opportunities to the MYC4 platform: most notably, an expansion to the coastal region of Kenya where the provision of microfinance services has generally been limited; increased focus on low income rural entrepreneurs; and the introduction of a new water loan product.
The purpose of the water loan product is to assist borrowers to have “uninterrupted sustainable supply of clean water for domestic and commercial use so as to allow optimal disposable time for the running of micro businesses”. Other products focus primarily on working capital and purchase of business assets. Yehu’s loans will range from €100 up to €5,000 and all loans will be made through the group lending model.