The Common Friends Club (CFC) was founded in the year 2000. The initial objective was to bring together a group of friends with a view addressing social (welfare) challenges facing them.

In the year 2002, the group was registered under the Societies Act. Between the year 2002 and 2005, CFC focused mainly on welfare matters and giving micro loans to members. By the end of 2005, the members’ savings had increased substantially to over KES 5 million. The CFC then registered a partnership(Common Friends Enterprises) under the registration of Business Names Act (Cap 499, Section 14) so as to take advantage of business opportunities.

In 2008 the group registered CFE Limited mainly to enable it acquire investment property in a corporate entity.

Between the years 2000 and 2013, CFC had 15 members. This was attributed mainly to stringent conditions for joining particularly the requirement that:

1. Membership was restricted to men; and
2. New Members were required to be at the same level of contributions as the old members before they are admitted.

In the meantime, pressure began to be exerted on the group to open up and allow willing members to join albeit with less stringent conditions.

In the year 2013, the group made a strategic decision to open up and allow any person who can afford to contribute a minimum of KES 2,500 per month or KES 30,000 per annum to join. The group also eliminated the gender restriction. Mulembe Fund Trust was registered for this purpose.

By the end of year 2015, more than 200 people had been registered as Members and the total investment was valued at more than Kes 60 million.

Currently, the Club is conservatively valued at close to Kes 100 million.