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Co-op Bank Crowned Best Retail Bank in Kenya

- May 11, 2018

Co-operative Bank of Kenya was recognized as the best retail bank in Kenya at the fourth edition of the Banker Africa- East African...

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Felicio Fundi is a young, dedicated farmer residing in Rianjeru village, Mbeti South, Embu County. He is a loving husband and also a proud father of one. Felicio bears the essential responsibility of providing for his family, and he achieves this through a diverse array of agricultural pursuits, including dairy farming, pawpaw cultivation, and banana farming. In the semi-arid region of Rianjeru, clean water is scarce. The community depends on the "Rupingazi Rweru" water project, funded by the World Bank, but water is only available on specific days. During dry seasons, residents often go an entire week without any water. Felicio and his young family faced significant challenges, struggling to secure enough water for their crops, livestock, and daily needs. They often stayed up all night collecting and storing water when it's accessible, leaving them vulnerable to bandits and troublemakers who exploit the darkness. This situation made life difficult and dangerous for them. This predicament weighed heavily on Felicio, as it began to slow down his ability to manage the day-to-day activities on his farm. At times, he resorted to hiring a water tanker, which came at a steep cost of Ksh 3,000 for 6,000 liters of water, necessitating five deliveries in a month. This was not only financially burdensome but also unsustainable in the long run. Felicio yearned for a lasting and secure water solution for his family. Fortunately, Felicio was a member of BIMAS Microfinance, where he had been tapping into loans to support his farming endeavors. In March 2021, he received news that BIMAS was offering financing for water tanks to its customers. This was a golden opportunity for him to finally experience an abundance of water in his home. With the support of BIMAS, Felicio secured a loan of Ksh 78,000, enabling him to purchase and install a substantial 10,000-liter water tank on his property. The transformation was worth it. The family was no longer at the mercy of dry seasons; they now had a reliable and ample water supply for both their domestic needs and farming activities. Felicio's family life took a turn for the better. He radiated happiness as a father and husband. With their newfound water security, the family harbors ambitious plans to expand their farming enterprise. They even own another farm situated near a river, and BIMAS's support extends to financing the purchase of a water pump for this venture. In Felicio's own words, he joyfully exclaims, "I can now farm with confidence throughout the year. My small-scale farming business has thrived since partnering with BIMAS. We are no longer constrained, and our lives are no longer endangered during the night. We can rest early and wake up refreshed to tend to our farming." Felicio’s success story highlights BIMAS Microfinance's commitment to Sustainable Development Goal 6 by ensuring sustainable water management. By financing water tanks and pumps, BIMAS tackles water scarcity in semi-arid regions like Rianjeru, enhancing farmers' quality of life and promoting sustainable agriculture. This support boosts both economic and social well-being in the community, demonstrating a commitment to improving water access and management.

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The government of Kenya is seeking into intra-Africa tourism opportunities within the African Continental Free Trade Area (AfCFTA) to unlock the sector's projected Ksh 1 trillion contributions to the economy by end of 2027. Speaking during the opening ceremony of the 15th edition of the Magical Kenya Travel Expo (MKTE) at Uhuru Gardens. Deputy President of Kenya, Kithure Kindiki noted that while Kenya leads its East Africa counterparts on visitor arrivals, the country must leverage continental integration to achieve double-digit growth seen in Asian and European markets. "Tourism is a critical anchor of Kenya's economy and a pillar of our Bottom-up Economic Transformation Agenda (BETA). With Africa emerging as one of the strongest-performing regions in global tourism recovery, we must capitalize on AfCFTA opportunities. The tourism sector must become a critical interlocutor in transport, logistics, trade, investments and MSME sectors, driving synergized policy outcomes." Kindiki stated. According to the World Tourism and Travel Council (WTTC). Kenya's tourism sector is set to contribute a record Ksh 1.2 trillion to the economy, equivalent to more than 7% of national Gross Domestic Product (GDP). The sector is also expected to support 1.7 million jobs in 2025, maintaining over 8% of total national employment. The DP outlined government's infrastructure investments to support the growth of the sector, including the Nairobi-Nakuru-Mau Summit Highway, Lamu Port development. SGR expansion and new direct flights from global hubs. He stressed the need to diversify beyond traditional offerings, citing emerging products like astro-tourism, desert safaris in Chalbi, and tech-tourism leveraging Kenya's "silicon savannah" reputation. "We must market the complete Kenya story-from our technological innovation to our athletic excellence, from the Cradle of Humankind to our forty vibrant communities," he added. Equally, Kindiki also stressed the importance of sustainability, linking the government's tree planting initiative to eco-tourism enhancement, while ensuring tourism benefits reach grassroots communities. The expo has drawn over 6,500 delegates from 40 countries, including 400 exhibitors and 200 international buyers with the opportunity to explore how strategic investments and collaborative frameworks can contribute to the African tourism ecosystem which presents unprecedented growth potential. Tourism and Wildlife CS Rebecca Miano hailed the expo's evolution into a continental platform noting its critical role in accelerating investment flows for infrastructure development which directly supports Kenya's tourism target of 5.5 million visitors by 2027. "Infrastructure development through public-private partnerships remains our cornerstone strategy. By leveraging private sector expertise and government support, we are building world-class facilities that enhance visitor experiences while creating sustainable employment for our communities across the tourism value chain." Miano emphasized. On her part, Director of Trade in Services, Investment and Digital Trade AfCFTA Secretariat, Emily Mburu, highlighted the strategic importance of strategic tourism partnerships, particularly for advancing continental market integration. "Tourism shows how AfCFTA works in practice, public-private frameworks attract Foreign Direct Invest (FDI), build world-class infrastructure and create employment across borders. When tourists move seamlessly across Africa, they activate supply chains, stimulate trade and prove that integration delivers immediate, tangible benefits to African economies," he noted. The expo's focus on intra-African partnerships comes at an opportune time, given Africa's growing contribution to Kenya's tourism earnings. Africa was the leading source of tourist arrivals in 2024, accounting for 40.8% of international visitors. This year's Magical Kenya Travel Expo will incorporate digital matchmaking technology which facilitates pre-scheduled B2B meetings between buyers and sellers, maximizing business outcomes. It will also feature five-day familiarization trips, integrated marketing campaigns and dedicated sessions on creative economy integration within tourism.

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