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Living expenses in Kenya have been increasing at vast rates over the past few months, as seen in Figure 1 below. The inflation rate reached a high of 7.9% in the month of June, surpassing the ceiling rate the Kenyan Central Bank had estimated of 7% (Wamugu, 2022) .  The high rates of inflation in Kenya have been attributed primarily to the increasing fuel prices which have hiked up transportation costs, consequently impacting business operational costs. For instance, gasoline prices increased from 134.34KSH (1.14USD) per litre in May 2022, to 159.12KSH (1.35USD) per litre in June 2022 (Global Petrol Prices, 2022).
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Recently, we had a talk with Soulemane Diaoune, Mkono's Head of Tech. He shared with us his experience with Mkono and discussed his ambitions for his role within the team.  Soulemane Diaoune Microcredit is a prominent approach to supporting women’s entrepreneurship and has provided a means to tackle several economic and social hurdles women face which have hindered their economic progression over decades. Microfinance has been a well-known economic tool supporting women in Kenya since the 1990s, and has since spread across the nation with several established organizations, such as the Kenya Women Finance Trust (KWFT), Faulu Microfinance Bank and Uwezo Microfinance Bank. Although Microfinance Institutions (MFIs) have existed in the nation for decades, their success in empowering women is greatly contested. Anita is a full stack engineer at Mkono within the Technology Team. She helps in the development of Chombo, Mkono’s internal software used to assist the Operations Team to automate and keep track of business processes. She shared with us her experience so far.  Anita Ly, Full Stack Engineer Your loan requisition has been approved. Congratulations! What now? Continue reading to get direct tips from Mkono success officers on succeeding within our loans and mentorship program.  |
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