Five Community Currency (CC) trading business networks in Kenya have started their end of the year activities, using collected membership dues in CC as a community fund to care for the needy. A lot has happened this year. With only ~2,000 Euros worth of CC in circulation between five networks, we're seeing as much as 350 Euros of daily trade. This makes a huge impact on the lives of small businesses and schools in informal settlements.
- Amount in circulation: 216,000 Kenyan Shillings (1,911 EUR)
- Daily Circulation estimate in November. 39,430 Kenyan Shillings. This is 18% of total in circulation traded daily. (358 EUR)* This is a low estimate for average yearly as we approach holiday seasons.
- Monthly Circulation: ~1,118,000 Kenyan Shillings (10,750 EUR)
- Yearly Circulation: ~14,000,000 Kenyan Shillings (129,000 EUR) This as new trade within five low income informal settlements.
The amount of trade is more than 200% higher than the amount of funding it has taken to setup these programs and will continue to grow.
- Business Network Members: 599
- Schools: 18
- Teachers: 72
- Community Fund beneficiaries outside of Networks( such as service work participants): ~500.
- Saving & Loan Members: ~100
- Students: 540
- Family members: ~3000
- Surrounding communities depending on businesses and schools: 100,000 (at roughly 20k people in each community around the shops)
Typical CC Uses
- Increases to sales and customers
- Not going hungry and stability during poor markets
- Offering CC as change during National Currency sales.
- Higher enrollment and less student debt
- Teacher salary advances
Open Air Markets
- Selling more stock and getting new clients
- Public usage of CC during event
Savings and Loan
- Ability to save and invest. Networks savings increasing.
- Waste Collection, care for the needy, sports events, networking and cooking, school events.