IFC guarantees Faulu Kenya DTM Limited
On 20th July 2009, Faulu Kenya Deposit Taking Microfinance Limited (“Faulu Kenya”) and the International Finance Corporation (“IFC”),  a member of the World Bank Group, entered into a guarantee issuance agreement in which IFC would guarantee up to 80% of a loan facility between Faulu and a local lender.  Faulu in turn approached Standard Chartered Bank Limited (“SCB”) for a loan facility of Kenya Shillings Four Hundred and Fifty Million (Kshs. 450 million). 

Faulu Kenya Deposit Taking Microfinance Limited
On 21st May 2009, Faulu made history by becoming the first Deposit Taking Microfinance to be licensed by the Central Bank of Kenya to accept customer deposits. Faulu is now able to offer both credit and savings products and services to over 250,000 clients. The company, which now operates under the Micro finance Act, under regulation by the Central Bank of Kenya envisions expanding its business line to target 1million clients by 2011.