IFAD project expands access to affordable remittances, financial training in rural Kenya
David Berno, Remittances and Inclusive Digital Finance Officer (Kenya, Uganda) for International Fund for Agricultural Development (IFAD) and Betty Korir, CEO Credit Bank PLC, during the Closing Session of the Affordable Remittances and Enhanced Financial Inclusion for Rural Remittance Families in Kenya Project. PHOTO| COURTESY
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The project, Affordable Remittances and Enhanced Financial Inclusion for Rural Families in Kenya, was launched in 2023 in partnership with Credit Bank PLC, RIA Money Transfer, and Interswitch East Africa. It focused on linking rural SACCOs to remittance services while providing financial training to households that depend on money sent from abroad.
Over 112,000 people received financial literacy training in areas such as budgeting, saving, and investment. More than 1,800 remittance receivers opened bank accounts for the first time, surpassing the initial target of 1,500. Women made up 44 percent of participants, underlining their key role in managing household remittances.
Through the initiative, rural SACCOs were integrated into the RIA–Credit Bank channel, enabling them to offer account transfers and cash pick-up services locally. Earlier this year, Skyline SACCO launched a Remittance and Diaspora Policy, marking a shift from pilot participation to institutional adoption of remittance services.
According to Credit Bank CFO and programme patron Daniel Lesirma, the project also tested incentive models that encouraged SACCO members to save more. “Monitoring showed that more than 400 members from one SACCO increased their savings within six months of participating in training sessions,” he said.
Looking ahead, IFAD and its partners plan to expand remittance channels, including a new corridor from Germany, to connect more diaspora communities with rural SACCOs.
“Remittances remain a lifeline for millions of Kenyans, especially in rural areas where access to financial services is limited. By bringing SACCOs into the remittance ecosystem, this programme has shown how trusted community institutions can bridge the last mile,” said David Berno, IFAD’s lead on Remittances and Inclusive Digital Finance.
She also pointed to the bank’s recapitalisation plan, which is expected to strengthen its ability to support SMEs while maintaining reliable remittance services.
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