This should cover all practicing microfinance practitioners – ranging from deposit-taking MFIs, non-deposit taking MFIs and informal microfinance entities. You will note that in the recent past, the Central Bank of Kenya made press statements in the print media warning the public on the illegal operations of pyramid schemes in Kenya.
The building of an all inclusive financial system including the strengthening of alternative financial service providers and public education and awareness campaign is expected to stem off the mushrooming of pyramid schemes and similar schemes.