Family Bank Kenya Founder TK Muya. PHOTO/COURTESY

The Power of Vision and Resilience: Family Bank Kenya Founder TK Muya’s Story

Banking & Finance

Family Bank Kenya opened its doors with a vision to empower underserved communities with access to financial services. Over the last 40 years, Family Bank has expanded its branch footprint from one branch to 95 branches across 32 counties in Kenya, proudly serving over 1.7 million customers with a total asset base of KES 158.3 billion and a deposit base of KES 119 billion as of 30 June 2024.

 

Determined to make his dream of establishing a financial institution a reality, one man; Titus Kiondo Muya, popularly known as TK. Muya set off to make his dream a reality. With no formal training in banking, he registered Family Finance and Credit Limited and struggled for four years to get a banking license after repeatedly being turned down and finally started off as a building society. From those humble beginnings, the institution grew steadily as Family Finance Building Society which continued to grow and by 2005, had over 30 branches across the country.

 

In the year 2007, Family Finance Building Society officially transitioned into a fully-fledged commercial bank following a nod from the regulator; Central Bank of Kenya.

 

 

Our mission was simple yet bold: to create a bank that could reach those who were unbanked, offering them a pathway to opportunities and financial empowerment. We believed in the potential of ordinary people to achieve extraordinary things when given the right support. Today, I am incredibly proud to see how this vision has blossomed, from What began as a dream in 1961, when I was just 18 years to what it is today,”

narrated Family Bank Founder T.K Muya at the institution’s 40th anniversary celebrations held in Nairobi.

Family Bank Founder TK Muya receives a portrait from Board Chairman Lazarus Muema during the Family Bank 40th Anniversary Gala dinner. PHOTO/ COURTESY

 

From providing accessible loans to smallholder farmers, Micro, Small and Medium Enterprises (MSMES) and individuals to pioneering mobile banking services, Family Bank has continually evolved to meet the needs of its clients.

 

As a young man, TK Muya had envisioned a bank that would support millions of small and medium enterprises, jua kali artisans, tea and coffee farmers, teachers, junior government employees, parastatals, NGOs, and private organizations but all he had was an idea, a vision, determination—and no capital to start. What he initially thought would be a sprint turned out to be a marathon.

 

As part of its commitment to technology-driven solutions over the years, Family Bank pioneered digital banking in Kenya by introducing smart card technology, launching mVisa across Africa, and innovating the mobile banking app, PesaPap, which processes over 90 per cent of the Bank’s transactions. These solutions have revolutionized customer experiences by making banking more accessible and convenient.

Central Bank of Kenya Chair Andrew Musangi (3rd R) joins Former Family Bank Chair Dr. Wilfred Kiboro( L),CEO Nancy Njau, Board Chair Lazarus Muema, Founder T.K. Muya, Director Julius Muya & Board Vice Chair Mark Keriri during the Bank’s 40th anniversary celebrations commemorating four decades of success and growth for the Bank. PHOTO/COURTESY

 

Family Bank’s vision is to be a trailblazer not only nationally but also regionally. To be a sustainable, customer-centric, and digitally driven institution that excels in operational excellence and innovation

Through perseverance, compassion, and commitment the bank is committed to continue in its pursuit of poverty alleviation and economic empowerment. As the great Nelson Mandela once said, ‘It always seems impossible until it’s done.”

 

The Power of Vision and Resilience have been key drivers for the growth of Family Bank from conception to this milestone celebration. The next 40 years, the bank’s focus will be on harnessing the power of technology to bring financial inclusion to the most remote corners of Kenya and beyond.

WATCH TK MUYA’s STORY HERE:

 

 

 


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