ANNE MAINA
NAIROBI (KEN)
Role(s):
Founder/Owner/Principal
INUKA AFRICA LTD
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Startup
Location:
NAIROBI
Industry:
Finance
Year Founded:
2011
Number Employees:
10-50 people
Business Stage:
Growth (profitable)
Entity Type:
Limited Liability Company
Description:
Inuka Africa Ltd (IA) is an early stage Kenya based Microfinance Company serving micro and small entrepreneurs in urban and peri-urban areas of Kenya. IA has two branches in Nairobi with another three to be opened before the end of the year. IA plans to have branches in all major cities and towns in Kenya in the next three years and to have presence in the major cities in East Africa within five years. IA has experienced tremendous demand for its financial products since inception, with month-on-month growth of the loan book averaging 130%. IA offers 1-6 month loans repayable weekly or bi-weekly for closer risk management and higher turnover. Our processes are extensively automated with funds being disbursed and repaid through mobile money transfer for greater efficiency. The demand for our product is enormous and the competitors providing similar products limited.
In Kenya where only 40% of the bankable population has access to formal financial services, Inuka Africa is uniquely positioned to exploit this largely untapped market by offering products that existing MFIs do not offer - quick, short term funding to micro and small enterprises. The Founders/Directors have years of experience in Microfinance and Banking, with the Managing Director having served at Senior Management levels with the largest microfinance company in Kenya. IA has an experienced and competent management team focused on growing the company into a leading financial services brand in the region. IA promises investors a good return on investment. Business plan is available on request.