Faulu Kenya and Rafiki post impressive results

Faulu Kenya Deposit Taking MicroFinance posted improved profitability last year as did its peer Rafiki DTM. Faulu said profits before tax grew to Sh97.6 million up from Sh16.1 million in 2011 as micro-loans rose to Sh4.9 billion up from Sh3.2 billion. This saw interest income on loans rising to Sh1.1 billion, up from Sh967 million the previous year. Rafiki DTM bounced from a Sh21.6 million loss posted in 2011 to record a Sh7.7 million pre-tax profit. Loans jumped fourfold to hit Sh508 million, up from Sh104 million. Interest income on loans rose to Sh90 million from Sh3.9 million in 2011...