Background
Greenland Fedha is a non-deposit-taking microfinance subsidiary of Kenya Tea Development Agency Holdings limited.
Established in 2009, Greenland Fedha works with small-scale tea farmers in providing affordable financial services to enable a positive impact on their social, economic, and natural environments.
Challenges
- Loan applications and other business services were done manually on paper from all offices across the eighteen tea-growing counties.
- The cost of business operation was very high as a result of printing loan forms and logistics for the distribution of the forms across the region.
- The turnaround time for business was fourteen days.
- Customer identification and validation were a big challenge and thus cases of identity were very high.
Objectives
- To improve on customer KYC (know Your Customer).
- To improve on business delivery turnaround time.
- To reduce fraud through identity theft.
Process
We worked with Coretec Solutions Africa to implement Agency Banking which has given the company a major transformation and reengineered the business processes by eliminating manual loan applications thus reducing the turnaround time for business, improving data accuracy, and eradicating cases of identity theft through the adoption of biometrics as a way of customer identification.
–M’Inoti Nyaga Kimathi ICT Manager, GFL
Results
Currently, the company has over 120 POS devices and has generated over KES 500M worth of loans. The company has started a process of onboarding agents to transact on our behalf. So far we have sixteen agents and one hundred staff currently transacting using the devices.
–M’Inoti Nyaga Kimathi ICT Manager, GFL
