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Our Work
Microfinance
AFRICA
KENYA - Savings for Life
Country Profile
Kenya
- Population:
- 39,002,772
- Capital
- Nairobi
- Major Rel.:
- Mainly Christian, some Muslim
- Main Lang.:
- English (official), Kiswahili (official), numerous indigenous languages
Country: KENYA
Project Title: Savings for Life
Project Designation: 1106
The Need:
Economic poverty in Kenya remains staggering with 58.3% of the population living below US$2/day. While commercial banks and microfinance institutions in Kenya have become commonplace, they fail to target the very poor and rural poor with safe, affordable and convenient access to deposit taking services.
WRC’S Response:
To enhance the ability of the very poor and vulnerable in Kenya in accessing safe mechanisms for their savings, World Relief Kenya (WRK) will develop a savings program using a community managed savings and credit group model. Within this model, groups of 10-25 people will be formed and trained in how to develop and manage a savings fund that, in addition to encouraging regular savings behaviour, will provide small loans to group members to be used for either consumption or investment purposes. The primary population targeted in this program will be persons affected and infected with HIV/AIDS in the areas of Rongai and the greater Kajiado area of Isinya, Mananga and Loitoktok, where there is a high prevalence of the population affected and infected by HIV/AIDS, particularly youth.
In this pilot project, World Relief Kenya will use a time-bound accumulated savings and credit methodology to train trainers in mobilizing groups of people who will build and manage an internal savings and lending fund. Groups will be provided with training on how to develop group policies, how to conduct savings and lending operations, and how to conduct an end of cycle (typical 10-12 months) share out in which the savings and accumulated loan interest will be shared out to group members proportionate to their savings activity. A Program Manager in the World Relief Kenya office will oversee all aspects of the project’s operations. Technical assistance will be provided through World Relief and other organizations and consultants.
Project goals that have been set are as follows:
1. Recruitment and training of field staff who will mobilize savings and credit groups.
2. WRK staff attendance at a one week Village Savings and Loans Association (VSLA) training.
3. Translation, adaptation and printing of VSLA manuals and training for field staff.
4. Hire Field Agents and train in mobilizing and training savings and credit groups.
5. 23 groups, with a total of 450 participants, will be trained on how to develop and manage an internal savings and lending fund.
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Our Mission
World Relief Canada’s Mission is to respond to the relief and development needs of the world’s poor in the name of Jesus Christ, through our global network of Christian organizations, in partnership with Canadian and overseas Churches.
Our Vision
World Relief Canada’s Vision is to see people responding, with compassion and justice, to the needs of the poor, oppressed and suffering in ways that bring healing and transformation in the world’s poorest communities.
Core Values
World Relief Canada's Core Values are the essential cornerstones upon which we do our work and are reflected in the following six areas.
- Economic Justice
- Transformation
- Empowerment and Equity
- Environmental Integrity
- Mutual Independence
- Financial Accountability
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