2009 - FSD Kenya

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Supporting the development of inclusive financial markets in Kenya FSD Kenya Financial Sector Deepening The Kenya Financial Sector Deepening (FSD) programme was established in early 2005 to support the development of financial markets in Kenya as a means to stimulate wealth creation and reduce poverty. Working in partnership with the financial services industry, the programme’s goal is to expand access to financial services among lower income households and smaller enterprises. It operates as an independent trust under the supervision of professional trustees, KPMG Kenya, with policy guidance from a Programme Investment Committee (PIC). In addition to the Government of Kenya, funders include the UK’s Department for International Development (DFID), the World Bank, the Swedish International Development Agency (SIDA), Agence Française de Développement (AFD) and the Bill and Melinda Gates Foundation.
Table of Contents Acronyms ii Director’s note 1 FSD Kenya staff 2 FSD direct partners 3 FSD’S APPROACH: BUILDING MARKETS 3 FSD Strategy 2008-2010 Focal themes during 2009 Core financial system Rural finance Finance for growth FINANCIAL INCLUSION IN KENYA Falling exclusion Sustained rapid retail growth Industry level developments Policy and legal framework 5 DEvELOPING THE CORE FINANCIAL SYSTEM Market information Developing a longer term vision The regulatory framework Increasing financial capabilities Leveraging social protection Direct retail capacity support 10 FSD KENYA 2008 ANNUAL REPORT • i RURAL FINANCE 16 Support to agricultural finance Promoting access through SACCOs Community based finance Supporting smaller micro-finance institutions Using technology to expand savings EXPANDING FINANCE FOR GROWTH Research efforts Industry infrastructure: Credit reference Supply chain finance - product development Skills development 21 FINANCIAL COMMENTARY 24 FINANCIAL STATEMENTS 25
Page 1: ANNUAL REPORT 2009 FSD Kenya Financ
Page 5 and 6: DireCTor’S noTe A difficult year
Page 7 and 8: FSD’S ApproACh: builDing mArKeTS
Page 9 and 10: FinAnCiAl inCluSion in KenYA Politi
Page 11 and 12: Meanwhile the explosive growth in u
Page 13 and 14: There have been some signs of inter
Page 15 and 16: develop a clearer common understand
Page 17 and 18: initiatives. Nevertheless we have c
Page 19 and 20: FSD KENYA 2009 ANNUAL REPORT • 15
Page 21 and 22: during the course of the year. The
Page 23 and 24: Box 2: Group Savings and Loans asso
Page 25 and 26: expAnDing FinAnCe For growTh Small
Page 27 and 28: can readily undermine existing prov
Page 29 and 30: FinAnCiAl STATemenTS INCOME AND EXP
Page 31 and 32: Towards a new financial frontier FS

2009 - FSD Kenya

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