IFAD takes financial inclusion to Kenya's rural homes
Business
By
Nanjinia Wamuswa
| Sep 05, 2025
IFAD Remittances and Inclusive Digital Finance Officer (Kenya, Uganda) David Berno and Credit Bank PLC CEO Betty Korir during the Affordable Remittances and Enhanced Financial Inclusion for Rural Remittance Families in Kenya project, in Nairobi, on September 4, 2025. [Wilberforce Okwiri, Standard]
The International Fund for Agricultural Development (IFAD), through its Financing Facility for Remittances (FFR), has concluded its two-year initiative that has helped thousands of rural households access affordable remittance services and financial training.
The project dubbed “Affordable Remittances and Enhanced Financial Inclusion for Rural Families in Kenya Project” was launched in 2023 with an aim of reducing remittance costs while strengthening financial inclusion through rural Saccos.
Over the project period, more than 112,000 individuals received financial literacy training, including budgeting, savings and investment skills tailored for remittance users.
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As a result, over 1,800 remittance recipients opened accounts for the first time, surpassing the original target of 1,500. Women represented 44 per cent of the participants, reflecting the critical role they play in managing household remittances.
The Programme’s Patron Daniel Lesirma said that the initiative also tested incentive models for Sacco members, leading to a measurable increase in savings,” Lesirma says.
Looking ahead, IFAD and partners are exploring new remittance corridors, including Germany, to connect more diaspora communities to rural saccos in Kenya.
“Remittances remain a lifeline for millions of Kenyans, particularly in rural areas where access to financial services is limited. By bringing saccos into the remittance ecosystem, this program has shown how trusted community institutions can bridge the last mile,” David Berno, Lead Remittances and Inclusive Digital Finance at IFAD explained.
Credit Bank PLC CEO Betty Korir, said that by linking Saccos to international remittance networks, the programme placed global financial flows directly into the hands of the people who needed them the most.
She said that while the initial phase of this project formally comes to an end, the real test of success would be in the ripple effects across villages and trading centres.