Maji Mazuri 2021 Micro Finance Highlights

2021 has been a fair year despite the numerous challenges brought by Covid-19 pandemic. We are glad that despite those challenges, our projects stood strong and continue to transform the lives of young people and families in our community. We share sincere gratitude to all our well-wishers and partners for continued support and believing in us. Your support continues to empower Maji Mazuri to make a difference in the lives of many children, youths and families that we serve.

 

  • According to the latest Kenya economic update report by the World Bank published on 25th Nov 2021, the economic and social disruptions induced by the COVID-19 (coronavirus) pandemic have eroded progress in poverty reduction in Kenya, forcing an estimated two million more Kenyans into poverty. This economic disruption resulted in huge job losses and collapse of many businesses.

 

  • In response to this economic crisis, Maji Mazuri started a microfinance program in October 2020 to support parents of Headstart school and youth members in our youth program. The program started as a food relief activity, but later resorted to microfinance instead. The objective of the microfinance project is to help its members to boost and sustain their businesses during these difficult economic times. The beneficiaries of this program are supported with small financial grants spread in three months to invest in their businesses. Every month the group comes together for short training on entrepreneurship skills as well as learning through peer sharing. The group has a weekly savings program (table banking) with an aim of creating a pool of funds where members can get small loans to boost/expand their businesses. The group savings has currently grown to Kshs 190,130 (USD 1901). The group has already started issuing small loans to its members and so far Kshs 140,100 (USD 1401) has been issued as loans to members. The program has 45 active members and looks forward to recruiting more members with a target of reaching 150 members in 2022.

 

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