Musoni Microfinance Limited (“Musoni”), a Kenyan-based pioneer in the provision of digital financial services is proud to announce the appointment of a new CEO and a new Chief Risk Officer (CRO) of Musoni.
Musoni, based in Nairobi, was established in 2009 and is well-known for being a first mover in digital lending. Its financial inclusion mission focuses on serving microenterprises, women, and smallholder farmers in urban, semi-urban and rural areas of Kenya through a country-wide network of 25 branches.
The changes in management follow the acquisition of Musoni’s ownership by Alterfin C.V. (“Alterfin”), I.D. Inspiring Development GmbH (“ID”), Regional MSME Investment Fund for Sub-Saharan Africa S.A. (“REGMIFA”) and SIMA Off-Grid Solar and Financial Access Senior Debt Fund 1, B.V. (“SIMA”).
Musoni proudly announces the appointments of Ms. Barbara Asumadu as CEO and Mr. Mahmoud Suleiman as CRO. Ms. Barbara Asumadu has more than 15 years of experience in microfinance, with core expertise in business development, lending operations, credit risk management, training, and capacity building with microfinance institutions in West and East Africa. Having worked for over 15 years in microfinance, Mr. Mahmoud Suleiman developed a strong expertise in lending operations with micro and agricultural clients, as well as in credit risk management, with a special emphasis on problem loan management.
Michael Kowalski, Chairman of the Board says: “On behalf of my fellow Board members, I welcome the new Management Team at Musoni. Ms. Asumadu brings with her a wealth of leadership experience, exceptional business development experience and the ability to build staff and institutional capacity. This will have a strong impact on the future expansion of Musoni operations. Together with Mr. Suleiman, they constitute a formidable leadership team, highly motivated to take Musoni forward. We are also very excited about the strong commitment from the extended management team and staff at all levels to support the management team. The Board stands ready to provide the guidance, expertise, and personal motivation to Musoni’s management and staff in driving its financial inclusion agenda.”