Local micro lender Watu Credit has recently been recognized for its dedication to client protection efforts with the attainment of a key certification. This certification, granted by the Microfinanza Rating (MFR) Certification Committee, signifies Watu's exceptional compliance rate of 99 percent in crucial areas such as fair and respectful treatment of clients, responsible pricing, privacy of client data, prevention of indebtedness, and effective mechanisms for complaint resolution. Being the first institution in Kenya and the third in Africa to receive this prestigious certification underlines Watu Credit's significant achievement in upholding ethical business standards and prioritizing the well-being of its clients.
In response to this milestone, Watu's General Manager for East Africa, Andrii Volokha, expressed gratitude for the recognition and emphasized its importance as a validation of the organization's dedication to maintaining high standards of customer care and integrity. Volokha highlighted that the certification serves as a vote of confidence for Watu Credit's customers and investors, showcasing the company's unwavering commitment to ensuring the welfare of its clientele. Furthermore, the acknowledgment solidifies Watu's reputation as a reliable provider of asset financing while reinforcing its position as a trusted partner in the financial services sector.
Since its establishment in 2015, Watu Credit has made significant strides in serving over 500,000 clients in Kenya and Uganda, facilitating their access to a wide range of innovative assets including motorbikes, tuk tuks, smartphones, and cars. Through its operations, Watu has played a crucial role in empowering individuals by providing them with opportunities to acquire essential assets that enhance their businesses and livelihoods. The company's focus on client protection and ethical practices has not only garnered recognition through the recent certification but has also solidified Watu Credit's standing as a reputable and customer-centric institution in the micro-lending industry.