AN INDUSTRIAL ATTACHMENT REPORT AT FAULU MICRO-FINANCE BANK LIMITED BUNGOMA BRANCH WHICH COMMENCED ON 24TH JANUARY 2013 TO MARCH 2014.

Topics: Bank, Credit card, Microfinance Pages: 17 (4037 words) Published: March 26, 2014

DEDAN KIMATHI UNIVERSITY OF TECHNOLOGY

AN INDUSTRIAL ATTACHMENT REPORT AT FAULU MICRO-FINANCE BANK LIMITED BUNGOMA BRANCH WHICH COMMENCED ON 24TH JANUARY 2013 TO MARCH 2014.

DECLARATION
I hereby declare that this Industrial Attachment Report is my original work and it has never been presented for any award in any University, college or any other institution of higher learning other than DKUT.

Name: Mabonga Edward Reg No: S030-0118/2010

Program: Bachelor of Actuarial Science.
Signature……………………………..
Date...…………………………………

This report has been presented for examination with my approval as the appointed supervisor. Supervisor: ………………………….
Signature…………………………….
Date………………………………….
DEDICATION
This Industrial attachment Report is dedicated to my parents and supervisors for enlightening me on the importance of education and also encouraging me to strive for higher goals in life. This is also dedicated to future students who want to do reports on the same and would like to use this report as a reference.

ACKNOWLEDGEMENT
I would like to pass my sincere gratitude to the almighty God for granting me much favor in terms of health and wisdom. Much appreciation also goes to my Course Instructors, Head of Department for his much guidance, support and encouragement to make my Industrial Attachment Report writing a success. My appreciation also goes to my friends for their assistance in elaboration of some conflicting issues.

Table of Contents

CHAPTER ONE: INTRODUCTION
1.0 BACKGROUND
Faulu Kenya Deposit Taking Micro-Finance Limited is a limited liability company duly incorporated in Kenya under the Companies Act. The company changed its name to Faulu Kenya Deposit Taking Microfinance (DTM) Limited in 2008 as part of the requirements to obtain the Deposit Taking Licence from the Central Bank of Kenya. In May 2009, Faulu became the first registered DTM in Kenya under the Micro-Finance Act and is regulated by the CBK. Faulu was founded by Food for the Hungry International (FHI),a Christian relief  organization, Loan scheme program that targeted the economically active poor in Mathare.  From its humble roots as a loan scheme in 1991, Faulu is currently one of the top Deposit Taking MFIs in Kenya have successfully developed a platform aimed at banking the previously unbanked though a variety of savings, credit, micro insurance and mobile banking solutions.  

1.1 COMPANY’S VISION AND MISSION STATEMENT
1.1.1Vision statement
Giving Kenyans hope and a future.
Giving - Proactively seeking to enrich others through service. Kenyans - Belief in our people’s potential, home-grown indigenous solutions for Kenyans by Kenyans. Hope- Motivation for optimism.
A Future- Facilitate the fulfilment of Kenyans’ aspirations and dreams. 1.1.2 Mission statement.
To listen and empower Kenyans by providing relevant financial solutions To Listen- Actively engaging others with a view to know them better hence meet their needs To Empower- Going beyond financial services by equipping with knowledge, skills and reaching out through VOC. Relevant Financial Solutions - Financial products and services that respond to customer needs.

1.2 OBJECTIVES OF FAULU MICRO-FINANCE BANK LIMITED
a. To enhance country’s economic growth.
b. To improves socio-economic status of the community.
c. It creates employment for the rural-urban population hence minimizing rural-urban migration. d. To decentralize industries and increase the Kenya’s GDP.

1.3 CORE VALUES OF FAULU MICRO-FINANCE BANK LIMITED
a. The...


References: 1. The Kenya Gazette Micro-Finance Act 2009.
2. Company Data and documents.
3. Coursework note books (Research Methodology).
4. Contacting employees on various sections.
5. Faulu Microfinance Bank website
TRAINING OFFICER ‘S COMMENTS
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SIGNATURE……………………… DATE……………………
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