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Kenya > Small and Micro Enterprise Programme (SMEP)

Small and Micro Enterprise Programme (SMEP) is a credit-only Microfinance Institution born out of an initiative of the National Council of Churches of Kenya (NCCK) to alleviate poverty by empowering those who are economically marginalized through provision of both financial and non-financial services. Specifically, SMEP began as a feeding program for the poor in Mathare, a slum near Nairobi, in 1975. In 1978, NCCK realized that the poor needed to be self-reliant and economically empowered and the feeding program was transformed in to a microcredit scheme known as Small Scale Business Enterprise (SSBE). SSBE began with financial assistance from USAID, channeled through K-Rep NGO, and, by 1997, SSBE had grown to a client base of 2,500 and a loan portfolio of Ksh 26 million. In 1999, through a managed institutional developed process, the project transformed into an independent Micro Finance Institution registered as a private company limited by guarantee. However, SMEP is currently in a transitional period from credit-only MFI to a deposit taking MFI under the Kenyan Microfinance Act of 2006. The Act requires all transforming institutions to register as a company limited by shares and, hence, SMEP has already registered a separate company limited by shares to conform to the new law. SMEP is uniquely focused upon Kenya’s deep and rural poor and is a leader in agricultural lending and innovation in financial services. It offers a very diverse product offering, partners with exciting organizations to offer products such as solar panel leasing and micro-health insurance, and has recently teamed up with Safaricom’s MPESA to allow easier repayment by clients via mobile phone. SMEP’s Board is a strong guardian of the organization’s mission and is specifically taking steps to ensure continued outreach to the rural poor. SMEP’S VISION To be the preferred and model provider of high quality financial and non-financial services in Kenya in order to alleviate poverty and enhance a strong and equitable economy MISSION STATEMENT To improve the standard of living of clients, employees and increase the value of other stakeholders by profitably providing high quality financial and non-financial services using efficient and effective technology. SMEP’s Product Line SMEP has a very innovative and creative product line that is demand driven and includes: Product Name Purpose 1. Business Loans General Business a. Inuka General Business b. Mavuno General Business c. Madola General Business d. Dhahabu General Business 2. Karo School Fees 3. Afya Medical Bills 4. Booster Top up on current business loan 5. Almasi 6. Agricultural Loans Agriculture 7. Household Loans Consumer Loan 8. Hisa Loans Loan to buy shares at Nairobi Stock Exchange 9. Business Asset Loans Asset financing 10. Growth Oriented Enterprise Loan Individual loan 11. Project Financing To buy land 12. Mifugo Bora Loans Farming loan 13. Salaried Loans Loans for government employees and salaried individuals