WATU CREDIT KENYA AND UGANDA AWARDED A CLIENT PROTECTION CERTIFICATION

Watu Credit Kenya and Uganda have been awarded a Client Protection Certification in recognition of their long-standing commitment to client protection by the Microfinanza Rating (MFR) Certification Committee.

The two subsidiaries of Watu were awarded Bronze level Customer Protection Certification, marking a significant milestone as the first financial institution in Kenya and the third in Africa to achieve this accolade.

This recognition underscores Watu’s commitment to upholding the most rigorous standards, ethical business practices, and 100% compliance with various client protection regulations and standards outlined in the Cerise+SPTF Methodology and the Universal Standards for Social and Environmental Performance Management.

Andrii Volokha, General Manager for East Africa at Watu, expressed gratitude for the recognition, stating, “We are privileged to have been awarded this certification, which is a vote of confidence for our customers and investors. This recognition highlights our commitment to our customer’s welfare and reinforces our reputation as a trusted asset financing provider. I want to reassure our investors that we have aligned our systems and practices to adhere to the globally accepted client protection standards.”

Watu was certified on key parameters of client protection services, including, Transparency, Appropriate Product Design and Delivery, Privacy of Client Data, Governance and Human Resources, Responsible Pricing, Prevention of Indebtedness, Fair and Respectful Treatment of Clients, and Mechanisms for Complaint Resolution. Since its inauguration in 2015, Watu has served over 500,000 clients in Kenya and Uganda, enabling them to acquire various innovative assets, including motorbikes, tuk tuks, smartphones, and cars. The company remains the foremost asset financing