Gatina-Pesa is the first group of 3 Community Currencies in Nairobi to Celebrate their 1st Anniversary on October 10th. With now over 120 small businesses that trade with each other on a daily basis, these members have begun a merry-go-round saving scheme that allows members to take up soft loans from within the network and refund within a period of 3 - 6 months. Such developments have deepened the trust within this community and encouraged members to become more active in trading using the Gatina-Pesa voucher.
The 1st Anniversary of the GBO has a great turn-up with a total of 6 Primary Schools in attendance. The local media, Mtaani Radio was also in attendance to cover the event. Guests and members enjoyed entertainment from schools and different local youth groups who presented skits and plays that portrayed the full trading cycle of the Community Currency. Towards the culmination of the event, members were involved in cake cutting to celebrate their first year of successful trade using the Gatina-Pesa.
Lindi Business Network (LBN) Growing Strong
Just two months since they had their launch, the Lindi Business Network (LBN) is rapidly growing. Last week, the LBN carried out its first Information Booth which saw 17 new businesses join the network and are already using the Lindi-Pesa. Pamela and Mama Beatrice are business women who operate within the Lindi area of Kibera. Pamela sells Fish while Mama Beatrice sells Tomatoes. These two business women trade with each other using Lindi-Pesa to supplement the National Currency. They also accept change in Lindi-Pesa when the National Currency is scarce. “When I want to buy fish worth Ksh.100 from Pamela, she accepts Ksh. 90 in the National Currency and 10 in the Lindi-Pesa voucher; the 10 Lindi-Pesa voucher I give her acts as a promise that when she comes to my shop to buy Tomatoes, I shall accept some of the payment in Lindi-Pesa. That way, we are both able to save the Kenyan Shillings and use them to cater for other household needs,” says Mama Beatrice.
The use of Lindi-Pesa has enabled these women to exchange their goods and services, even when they lack enough money due to poverty and economic downturns. Pamela concludes by noting, “As a business woman in this community, I want to take charge of my family’s livelihood, I want afford my children’s school fees and still have enough to save so that I can expand my business.”