Location: Kinondo Kwale, Kenya
SUMMARY
Kaya Kinondo Community Financial Services Association (KKCFSA) was established in 2003. It has over 2,000 members of which more than 25% are women. The Association has previously conducted community outreach on banking services supported by World Wildlife Fund for nature (WWF), National Bank of Kenya and Base Titanium Mining Company. It provides loans at subsidized interest rates to community groups to undertake initiatives that protect the environment and improve livelihoods.
KKCFSA constructed a modern bank to improve effectiveness of providing timely micro credits. The Bank is enabling the community to access favourable loans hence encouraging them to reduce their financial dependency. It is also nurturing community's culture to save profits obtained from their economic activities. In 2016, KKCSA gave out loans of KES 18 million (USD 180,000) to 358 members. It is transforming Kinondoni Village into a modern self-sustaining economy.
