Rafiki Microfinance Bank is a Microfinance company licensed and regulated by the Central Bank of Kenya, through the Microfinance Act, 2006 (amended, 2013). Rafiki targets the gap between micro-enterprises and large or medium enterprises. It has branches in many counties in Kenya.
In 2020, the Assets Recovery Agency and Serious Crimes Unity said was seeking answers from Rafiki Micro Finance Bank on how the then MP for Mathira Rigathi Gachagua transacted Sh5.1 billion through the bank.
Documents filed in court by the ARA showed that the money started pouring into Mr Gachagua’s accounts soon after the Jubilee administration rode to power in 2013.
He received funds from the Ministry of Lands (Kenya Informal Settlements Programme), State Department for Planning, Ministry of Health, Bungoma County Government, Mathira CDF, Nyeri County Government and the National Irrigation Board.
The MP was a close ally of Deputy President William Ruto and was the brother of the late Nderitu Gachagua, the first Nyeri governor, who died in office on February 24, 2017.
The ARA was seeking to have the Sh200 million frozen in Mr Gachagua’s account forfeited to the State, saying it was proceeds of crime.