Home Finance Kenya Titus K. Muya: The Clerk Who Went On To Found Family Bank

Titus K. Muya: The Clerk Who Went On To Found Family Bank

Titus K. Muya: The Clerk Who Went On To Found Family Bank

Titus K. Muya will go down the annals of history as one of the big players in Kenya’s financial sector. The business mogul’s lack of a degree did not hamper his determination to own a financial institution. This resilience would lead to the birth of the renowned Family bank, which has branches in different parts of the country.


Born in 1943 in Kiambu county, his father was beaten to death by British soldiers with his remains buried in an unknown place.

His mother was permanently confined at Mathare Hospital after being tortured by the British. The firstborn in a family of four children-he, together with his siblings-were raised with relatives, especially their grandmother.

The Dream and Employment

In 1961, aged 18, Titus K. Muya had a dream of establishing a bank. This desire was sparked after he read the business segment of an international magazine.

After completing his O levels in 1963, he secured a clerical job but remained stagnant for years. He climbed the career ladder and began training university graduates who would then hold better positions than him.

Upon inquiring why he wasn’t being promoted, his boss told him his lack of a degree would hamper any other promotion opportunities. M

any are the times he thought of giving up but the fact that he was his family’s breadwinner encouraged him to press on. He had a wife, children and a sick mother.

The Foundation for Family Bank

In 1977, he started Family Finance and Credit Limited but did nothing with it until 1980 when he decided to register it with the National Treasury

Every Thursday, he would visit the National Treasury to follow up on his application but it was eventually turned down.

Undeterred, he started a building society named Family Finance Building Society. He was so excited and became the company’s CEO and first employee.

Their first branch was opened in 1984 in Kenyatta Avenue. The following year, they opened branches in Kiambu, Githunguri, Gatundu and Nairobi and also got credit to assist with the operations.

They soon observed that big banks offered credit to high end clients ignoring the rest. Hence, they started by giving school fees loans to small scale coffee and tea farmers and other low income earners. Their product gained them a lot of clients and they rolled out other services.

Growth and Becoming a Bank

They sailed through the turbulent financial crisis of the 80s and 90s that saw a lot of building societies close shop.

Their biggest cheque came in 1993 when they received Sh149 million from KTDA which were bonuses paid to farmers. This further helped to boost their growth and by 2005, they had 30 branches across the country.

In 2007, the Central Bank of Kenya gave them the nod to becomeĀ  a fully fledged bank.

In 2012, Titus stepped down as chairman of the bank. He went on to serve as a non executive director of the board.

Other ventures and Recognition

Apart from banking, TK has interests in other fields including Agribusiness and real estate. In 1986, he founded Daykio Plantations Limited. In 2014, he founded Kenya Orient Life Insurance Limited.

In 2011, the late retired president Mwai Kibaki meted him with the Elder of the Order of the Burning Spear (EBS) due to his contribution to the banking sector.

He also received the Trailblazer Award by The Marketing Society of Kenya. He has also given lectures in different forums in the country to encourage entrepreneurs in their journey towards success.

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