Network members also used the community fund to purchase food for local orphans.
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.
GE's Founder taking part in the groundbreaking ceremony for ANWAR school
- 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.