Supervision

The following activities are conducted through supervision of Tier 4 Microfinance institutions and Money lenders;

• Regular On-site and Off-site Examinations/ inspections for new license applicants, branches declared and licensees to ensure compliance with the legal frame work.
• Periodic collection and compilation of data which is analysed to assess the performance of the licensees (institutions). The financial position of the institutions is analysed to inform on the microfinance subsector stability.
• Regular Conducting of consultative meetings and sensitization workshops on key relevant issues in the Tier 4 microfinance sub sector across the sub-regions of the country.
• Carried out media campaigns to sensitize the public on the Tier 4 Microfinance Institutions and Money Lenders Act,2016 with accompanying regulations across the country in different media houses (T. Vs, radios, Newspapers, magazines, social media platforms).
• Regular market conduct supervision on the inherent risks in the licensed institutions to ensure consumer protection of the beneficiaries of the Microfinance sub-sector.
• Conducted Enforcement on some institutions operating without licenses to ensure that the public is well protected from the predatory money lenders.
• Established a Complaint handling mechanism which has led to reduction of public outcry on money lenders who were operating outside the law.