The need for microfinance in Kenya

Our second program on the African continent is in Kenya. Kenya is situated on the east coast of Africa, between Somalia and Tanzania. It also borders on Uganda and Ethiopia. Kenya is a lower middle-income economy. Although Kenya’s economy is the largest and most developed in eastern and Central Africa, 63% (2023/2024) of its population lives below the international poverty line.

Gender inequality is also a problem in Kenya (as it is in most African countries). Economic policy holds back women’s economic empowerment. For example, despite 96% of rural women working on farms, only 6% of the women in Kenya hold title to land.

Partnership with TENAKATA

WorldWise Microfinance is excited to work with TENAKATA, an entity created to support economic development in rural Kenya. By working with borrowers to ensure the success of their businesses, TENAKATA aims to support local economic development efforts.

WorldWise Microfinance will work with TENAKATA in the communities of Embu and Nanyuki, which are located in the Mt. Kenya region, about 100 miles from Nairobi, the capital of Kenya. The communities rely on agriculture, with the majority of the population engaged in both subsistence and cash crop farming. The cash crops include coffee, tea, miraa and macadamia nuts. Related businesses include vending milk, vegetables, prepared food, farm inputs (fertilizers and seeds) and farm equipment.

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Our programs in Embu and Nanyuki

The communities of Embu and Nanyuki are small, rural and perfect for piloting a microfinance program in Kenya. The towns are noted for being on or close to the equator and attract tourists. Economic activity derives from small-scale farms, and the dependence on trade.

The first loans in these communities were made in 2024, and repayments have been on time. This is attributable to the lending group model that we use. With this model, 6 – 8 members of a lending group all receive a loan at the same time, and no member of the group can take out a subsequent loan until all members of the group have paid back their first loan. This creates both peer pressure and peer support, and has been one of the secrets of our success.

Our partnership with WorldWise Microfinance is a pivotal step in our mission to empower women-led businesses in rural Kenya. Together, we are not just offering loans; we are creating opportunities for these women to build thriving businesses that will uplift their communities.

—Sebie Salim • CEO, Tenakata

Support our Kenya program

The success of the Kenya program depends on building a strong foundation in order to expand and lift up individuals and communities for the future. Please consider supporting this program by donating to WorldWise Microfinance today.

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