Kenya Financial Stability Initiative

Why Kenya?

Kenya is a market-based economy with a domestic market of over 50 million people and is a leading economy in sub-Saharan Africa.

The Kenya National Bureau of Statistics in the past estimated, pre COVID, that 82.7 percent of the national employment is through the informal sector, micro-businesses and small businesses

Kenya has become one of the fastest growing economies in Africa, with an annual average growth of 5.9% between 2010 and 2018.

A report from the World Bank reveals that 63.8% of informal businesses cite access to finance as a severe obstacle. This is why our partnership with AFRESA has been successful in creating opportunities for individuals to combat poverty.

Kenya is the economic, commercial, financial, and logistics hub of East Africa. It has a young, growing and educated English-speaking population with a high fluency in technology.

There are two reasons why we selected Kenya to be the home for our first initiative. First, we already had strategic partners in the country. Secondly, our assessment confirmed that Kenya is ready and desperately needs access to microfinance services in order to continue to emerge as an economic power in the region.

The United States Agency for International Development informs that two-thirds of Kenyans live in poverty and make less than $3.20 per day. The agency also states that approximately 70 percent of Kenyan families are labeled chronically vulnerable because of poor nutrition, food insecurity, and preventable diseases. In 2020, the COVID-19 pandemic disrupted Kenya’s international trade and transport, tourism, and urban services activity. Not all is bleak however, as Kenya is a market-based economy with a domestic market of over 50 million people and is a leading economy in sub-Saharan Africa. Kenya is the economic, commercial, financial, and logistics hub of East Africa. It has a young, growing and educated English-speaking population with a high fluency in technology.

Kenya Partnership

Give A Hand has a partner in Kenya. Our partner, Africa Rebuilding Savings and Credit Cooperative (AFRESA) was founded to address the many financial challenges facing small and micro businesses in Africa. Their team in Kenya operates out of Nairobi & Kisu mu and has over 200 field reps working throughout the country including rural areas. Through our partnership, we provide access to financial services to both micro-businesses and start up small businesses.

Give A Hand, through our partnership with AFRESA, pilot-tested the delivery of microfinance services and its impact on the economic well-being on the local informal business sector. The results yielded successful outcomes, through 2022, that proved that we had a system ready to implement a full initiative and begin to engage a greater percentage of individuals seeking a path out of poverty.

Kenya has been ready and waiting for Microfinance interventions

The Kenya National Bureau of Statistics in the past estimated, pre COVID, that 82.7 percent of the national employment is through the informal sector, micro-businesses and small businesses. This has helped Kenya become one of the fastest growing economies in Africa, with an annual average growth of 5.9% between 2010 and 2018. However, a report from the World Bank reveals that 63.8% of informal businesses cite access to finance as a severe obstacle. This is why our partnership with AFRESA has been successful in creating opportunities for individuals to combat poverty.

You can be part of this change in people’s lives and the belief that everyone can work hard to change their economic well-being. If you believe that an individual has a right to change their future by working hard instead of waiting for a handout, you can join Give A Hand! See the many ways you can help here.