Tuesday, December 22, 2020 – Kenya Women Microfinance Bank (KWFT) is collapsing at a very fast rate going by the revelations made by renowned blogger Cyprian Nyakundi.
In a Twitter post on Tuesday, Nyakundi said the bank has closed its many branches and fired several employees because it is on the verge of collapsing.
Nyakundi further stated that people who bought shares in 2014 can’t sell them up to date due to financial problems facing the bank.
“Are you aware KWFT bank has closed so many branches and sent people home yet we are not seeing this on the news? People bought shares in 2014 and up to date, they can’t sell them. My work is just to alert you…,” Nyakundi stated.
KWFT was founded in 1981 by a group of women from different professions namely lawyers, bankers, financial experts, entrepreneurs and trainers.
The founders of the bank were driven by the passion of establishing a financial institution that would be committed to exclusively address the financial and non-financial needs of the women in Kenya.
The Kenyan DAILY POST