Following initial reports about withdrawal problems at Kenya Women Microfinance Bank (KWFT), more sources have stepped forward to share more troubling stories that point to a widening issue within the bank.
Clients, many of whom have depended on KWFT for years, are finding it increasingly difficult to access their funds, with some even receiving unclear messages about their balances. KWFT customers report blocked withdrawals, fuelling fears that the trusted bank is quietly collapsing without warning.
Our earlier coverage revealed how customers were being turned away from branches when attempting basic over-the-counter withdrawals, with no concrete explanation from bank staff.
https://nyakundireport.com/withdrawal-access-issues-reported-at-kwft/
The latest feedback shows that this is not isolated to just some branches, as rural clients, especially older women, now report being sent away repeatedly after travelling long distances and only told to “come tomorrow.”
Frustration is mounting as these clients, some of whom have invested for years and even participated in KWFT’s savings groups, are now left in confusion over where their money stands.
In some reported cases, clients claim they were informed of share releases via SMS, only to be blocked when they attempt withdrawals.
One source who spoke to us under the request of anonymity informed us that their mother broke down in tears after spending transport money to reach a branch, only to return home empty-handed, again. "Good evening Nyakundi. Kindly keep me anonymous. I’m reaching out because I know you're a strong voice and a mover who has helped expose people’s struggles and injustices. I’m deeply worried about what’s happening with KWFT (Kenya Women Microfinance Bank), something that urgently needs intervention before we lose more of our mothers, especially in the villages. KWFT has been a trusted institution for our mothers for years, but now, something is seriously wrong. It feels like they’re shutting down silently with no communication to their rural clients. Our mothers are in tears, stressed, and confused. KWFT is holding onto people’s shares and sending vague messages that funds have been deposited into accounts, yet they can't withdraw the money. These women are traveling long distances with hope, using their limited resources to get to KWFT branches, only to be told, "Come tomorrow." This is happening repeatedly, day after day. It’s not just frustrating, it’s cruel. Today, I watched my own mum cry like a baby over her hard earned shares that she can’t access. Please Nyakundi, use your platform to expose this. Let the relevant authorities intervene and investigate what is happening at KWFT. Our mothers deserve better. They believed in KWFT." These repeated deferrals and vague explanations have sparked fears that KWFT may be silently scaling down or withholding funds without proper disclosure.
Calls are growing louder for the bank’s management to explain what is happening and for regulators to step in and establish whether these reported withdrawal blocks are lawful.
Many have now been left wondering if a trusted microfinance institution begins to behave this way without warning, where does that leave its loyal clients?