Starting as “seed of compassion”, Caritas Bank in Kenya “has blossomed into a formidable institute”: Catholic Archbishop

Referring to the founders of the Caritas MFB, Archbishop Anyolo said, “These great shepherds taught us that the church must not only preach the gospel but must live it in our parishes, in our schools, and yes, even in our banking halls.”

He thanked members of the Board of Management and all staff of Caritas MFB over the years for their “dedication, integrity and commitment to Catholic social teaching” that he said has contributed to the development and transformation of the financial institution.

Caritas MFB has the vision to be “the household financial services provider that adds value to all” and the mission to “provide ethically driven financial solutions to achieve distinctive customer experience in a convenient and innovative way while growing our stakeholders value.” 

The core values of the Nairobi-headquartered Catholic financial institution include customer centric, accountability and professionalism, reliability, integrity, teamwork, accessible and responsive, and stewardship.

In his speech during the June 19 anniversary event, Archbishop Anyolo highlighted the uniqueness of Caritas MFB, saying it thrives not only because of its name “Caritas”, which means love, but also because of the “soul and mission behind it.”

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“This is not merely a bank. It is a ministry of the church, deeply grounded in the values of human dignity, solidarity, and subsidiarity, and the preferential option for the poor, as enshrined in the documents of the Second Vatican Council and the Social Doctrine of the Church,” he said during the event that had Clergy, women and men Religious, the Laity, including Caritas MFB chairman, and members of the Board of Management among others in attendance. 

During the June 19 event, Caritas MFB launched its various products, including Carimede Solution, Caritas Catholic Women Association (CWA) and Youth product, ERP System, Kabisa App, Caritas Changa, Caritas Hosi and Life Cash, and the Sustainability Report.

In his speech, the Local Ordinary of Nairobi described Caritas MFB as “a bank with conscience. It is a bank that does not exploit but uplifts; a bank that is not driven by profit alone but by purpose.”

He went on to challenge the leadership of Caritas MFB to explore ways to grow networks and expand. “We must now begin to open up the bank to strategic partnerships and investors, particularly within the vast Catholic Church ecosystem, both in Kenya and even beyond,” Archbishop Anyolo said.

He appealed for collaboration in transforming the Financial institution into a “fully-fledged commercial bank, one that remains deeply rooted in Catholic ethics but broad enough to serve a growing and diverse clientele with excellence.”

“In a special way, we acknowledge the integration of Caritas Nairobi's self-help groups, which has been a game-changer. These groups have built not just savings and credit but also solidarity and community, accelerating a collective mindset of empowerment, what we may call a group thing of grace and growth,” Archbishop Anyolo said, adding, “Your support has been instrumental in the success we celebrate today.”

The Local Ordinary of Nairobi encouraged all the institutions in his Metropolitan See, including schools, hospitals, parishes, religious houses, departments, and development programs, to support Caritas MFB and make it their main financial institution.

“My dear people of God, let us lead by example in strengthening our own so that the vision we began ten years ago may bear even greater fruit in the decades to come,” he said. 

Archbishop Anyolo continued, “Let us renew our commitment to work and walk together as a church, as a family, as a people of faith, as a pilgrim of hope in building a just and compassionate financial future for all.”

“May the Lord bless Caritas Microfinance Bank. May he bless all her clients, board, management, staff, and partners,” he implored.

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Sabrine Amboka is a Kenyan journalist with a passion for Catholic church communication. She holds a bachelor’s degree in mass communication from St. Paul's University in Kenya.