Choice Microfinance Bank Limited Branches, Locations and Contacts
Choice Microfinance Bank Limited stands as a prominent deposit-taking microfinance institution serving Kenya's growing financial needs, offering specialized banking services tailored for small and medium enterprises, individual entrepreneurs, and the diaspora community seeking reliable financial partnerships.
About Choice Microfinance Bank Limited
Choice Microfinance Bank Limited operates under the regulatory oversight of the Central Bank of Kenya, maintaining its status as a licensed deposit-taking microfinance bank since May 13, 2015. The institution has evolved from a community-based microfinance bank to achieve nationwide operational status, significantly expanding its service delivery capabilities across Kenya.
"Choice Microfinance Bank bridges the gap between Kenyan diaspora investments and local community financial needs, creating sustainable economic growth opportunities."
Headquarters and Main Office Location
Choice Microfinance Bank Limited maintains its headquarters at a strategically located facility that serves as the nerve center for all nationwide operations.
Primary Contact Information
| Detail | Information |
|---|---|
| Physical Address | Siron Place, Magadi Road, Ongata Rongai |
| Postal Address | P.O. Box 18263 – 00100, Nairobi |
| Primary Phone | +254-20-3882206 |
| Secondary Phone | +254-20-3882207 |
| Mobile Contact | +254-736-662218 |
| Email (General) | info@choicemfb.com |
| Email (Enquiries) | enquiries@choicemfb.com |
| Website | www.choicemfb.com |
| SWIFT Code | CHFIKENX |
"Microfinance institutions like Choice Microfinance Bank Limited play a crucial role in financial inclusion, serving populations often underserved by traditional banking systems."
Geographic Coverage and Branch Network
Following its transition to nationwide status in 2024, Choice Microfinance Bank Limited has expanded its operational footprint beyond its original community-based limitations. The bank now serves customers across multiple counties in Kenya, though specific branch locations continue to evolve as part of the institution's growth strategy.
Service Delivery Channels
| Service Channel | Availability | Contact Method |
|---|---|---|
| Head Office Services | Monday - Friday | +254-20-3882206 |
| Mobile Banking | 24/7 | Via registered mobile numbers |
| Customer Support | Business Hours | +254-736-662218 |
| Online Banking | 24/7 | www.choicemfb.com |
| Email Support | 24/7 Response | enquiries@choicemfb.com |
"The evolution from community-based to nationwide status represents Choice Microfinance Bank Limited's commitment to expanding financial accessibility across Kenya's diverse economic landscape."
Core Banking Services and Products
Choice Microfinance Bank Limited specializes in providing comprehensive financial solutions designed to meet the unique needs of small-scale entrepreneurs, diaspora communities, and individuals seeking accessible banking services.
Primary Service Offerings
| Service Category | Product Name | Target Market |
|---|---|---|
| Business Loans | Supa Biashara Loan | Small & Medium Enterprises |
| Savings Accounts | Various Savings Products | Individual & Corporate |
| Deposit Services | Fixed & Current Deposits | All Customer Segments |
| Money Transfer | Diaspora Remittances | International Customers |
| Mobile Banking | Digital Banking Platform | Tech-Savvy Customers |
| Microfinance | Small-Scale Lending | Micro-Entrepreneurs |
"Choice Microfinance Bank Limited's Supa Biashara Loan exemplifies the institution's commitment to empowering small businesses with accessible capital for growth and expansion."
Digital Banking and Technology Integration
Choice Microfinance Bank Limited embraces modern banking technology to enhance customer experience and expand service accessibility. The bank's digital platforms provide convenient banking solutions that complement traditional branch services.
Digital Service Platforms
| Platform | Services Available | Access Method |
|---|---|---|
| Online Banking | Account Management, Transfers | www.choicemfb.com |
| Mobile Banking | Transaction Processing, Balance Inquiry | Mobile Application |
| SWIFT Network | International Transfers | CHFIKENX Code |
| Email Banking | Account Information, Support | enquiries@choicemfb.com |
| Social Media | Customer Updates, Information | Facebook Page |
"Digital transformation in microfinance banking enables institutions like Choice Microfinance Bank Limited to serve customers efficiently while maintaining personal service quality."
Regulatory Compliance and Licensing
Choice Microfinance Bank Limited operates under strict regulatory guidelines established by the Central Bank of Kenya, ensuring customer protection and financial stability. The institution maintains all required licenses and certifications for deposit-taking microfinance banking operations.
Regulatory Information
| Compliance Area | Details | Authority |
|---|---|---|
| Banking License | Deposit-Taking Microfinance Bank | Central Bank of Kenya |
| License Date | May 13, 2015 | CBK Registration |
| Current Status | Nationwide Operations | CBK Approved 2024 |
| Regulatory Code | CHFIKENX | International Banking |
| Supervision | Regular CBK Oversight | Central Bank of Kenya |
"Regulatory compliance ensures that Choice Microfinance Bank Limited maintains the highest standards of financial integrity and customer protection in all its operations."
Recent Developments and Ownership Structure
Choice Microfinance Bank Limited underwent significant ownership changes with the acquisition by Wakanda Network Limited, a UK-based company, marking a new chapter in the bank's development and expansion strategy.
Ownership and Governance
| Aspect | Current Status | Effective Date |
|---|---|---|
| Major Shareholder | Wakanda Network Limited | September 2021 |
| Ownership Percentage | 85% Acquisition | CBK Approved |
| Parent Company Base | United Kingdom | International Ownership |
| Operational Status | Nationwide Banking | November 2024 |
| Strategic Focus | Financial Inclusion Expansion | Ongoing Development |
"The acquisition of Choice Microfinance Bank Limited by Wakanda Network represents international confidence in Kenya's microfinance sector and promises enhanced service delivery capabilities."
Customer Support and Communication Channels
Choice Microfinance Bank Limited maintains multiple communication channels to ensure customers receive timely support and information regarding their banking needs and service inquiries.
Contact Directory
| Purpose | Contact Information | Response Time |
|---|---|---|
| General Inquiries | info@choicemfb.com | 24-48 hours |
| Loan Applications | +254-20-3882206 | Same day |
| Account Services | enquiries@choicemfb.com | 24 hours |
| Technical Support | +254-736-662218 | Immediate |
| Complaint Resolution | Head Office Visit | Same day |
| Social Media | Facebook Page | Real-time updates |
"Effective customer communication remains a cornerstone of Choice Microfinance Bank Limited's commitment to delivering exceptional banking experiences across all service touchpoints."
Future Expansion and Strategic Outlook
With its newly acquired nationwide operational status, Choice Microfinance Bank Limited positions itself for continued growth and expansion across Kenya's dynamic financial landscape. The institution's strategic focus encompasses digital innovation, service diversification, and geographic expansion to serve evolving customer needs effectively.
The bank's transformation from community-based operations to nationwide coverage demonstrates its commitment to financial inclusion and economic empowerment. Through strategic partnerships, technological advancement, and customer-centric service delivery, Choice Microfinance Bank Limited continues strengthening its position as a leading microfinance institution in Kenya's competitive banking sector.
By Nairobi Online - Your trusted source for comprehensive business and financial information across Kenya's dynamic economic landscape.