Mission, Vision & Objectives
KIMS is the Market Leader in Microfinancial Services in Somalia.
KIMS Microfinance was launched in 2014 as Somalia’s first and only privately-owned microfinance institution. KIMS Microfinance operates on a commercial basis providing enterprise financing and linked savings services to low income but economically active Somalis and Somali small businesses.
Headquartered in Hargeisa (Somaliland), KIMS Microfinance runs its operations through its 14 branches in 10 different locations throughout Somaliland, Puntland and Southern and Central Somalia. They have provided financial services to over 16,479 clients since their launch, with a total of more than $17,303,606.70 of financing provided, which resulted in the creation of an estimated 7000+ new jobs.
Mission
KIMS Microfinance aims to be a leading provider of Sharia compliant
micro and small enterprise (MSE) finance services in Somalia.
Vision
KIMS Microfinace contributes to the economic and social development of Somalia
through the provision of high quality microfinance services to enterprises via a
professional, customer-centric and commercially viable business model.
Operational Objectives - 2021
By 2021 KIMS Microfinance will achieve the following business objectives:
Increase its active
client base to
24,000 MSEs
Provide cumulative
financing to over
80,000 MSEs
Provide cumulative
financing totaling
$USD 98 million
Have an active
portfolio of
$USD 27 million
Social Objectives - 2021
By 2021 KIMS will achieve the following social objectives:
Financial Inclusion
60,000 Somali entrepreneurs
provided with first-time finance.
Job Creation
KIMS Microfinance financing will stimulate an
estimated 75,000 new jobs.
Women's Empowerment
Half of all clients will be female
business owners.
Serving Vulnerable Groups
5,000 former refugees and internally
displaced people will be provided with
skills training and financial access.
Youth Employment
5,000 youth will be provided with
start-up business support packages.
Rural Outreach
40% of KIMS Microfinance clients will be from rural areas.
Savings Culture
Over $USD 5 million in savings accumulated by KIMS Microfinance clients and a strong culture of savings encouraged within communities .
Financial Capability
50,000 clients will be provided with
financial literacy training to improve their
ability to make financial decisions.
Energy Access
At least 5,000 clients will be support to install solar home systems through KIMS Microfinance energy financing scheme.
Timeline
2013
KIMS Microfinance registered as Non Banking Financial Institution (NBFI)
in Somaliland and Puntland
~
Build-Operate-Transfer (BOT) model delivered
with the support of K-REP Advisory (Kenya)
2014
KIMS Microfinance registered as NBFI in South Central Somalia
~
Lending operations launched in Somaliland and Puntland
2015
Lending operations launched in South Central Somalia
2016
Refugee returnee training and financing project launched
~
Fisheries value chain financing project launched
2017
KIMS Microfinance registered as Non Banking Financial Institution (NBFI)
in Somaliland and Puntland
~
Build-Operate-Transfer model delivered
with the support of K-REP Advisory (Kenya)
2018
KIMS Microfinance Rebrands
~
Solar energy financing scheme launched
2019
Off grid solar loan financing launched
group loan introduced
© 2018 - KIMS Microfinance