"Table banking" Women's Entrepreneurship Program: Empowering Kiberan Women
DURATION:
July 2023 - Ongoing
LOCATION:
Kibera, Kenya
PARTNER:
Women, Youth & Children Development Organization (WYCDO)
INTRO:
In the heart of Kenya's sprawling Kibera slums, a relentless cycle of poverty has long plagued its residents, especially women. With soaring unemployment rates, stark income disparities, and limited access to education and healthcare, the challenges for women in Kibera are immense.
IMPACT:
Our collaboration with WYCDO to launch The Liberty Station Fund holds the promise of empowering women in Kibera, Kenya, by providing them with financial resources, entrepreneurial opportunities, and the means to overcome life's challenges. It is a transformative step towards a brighter future for these women and their communities.
◎ The Liberty Station Fund: China House is poised to partner with WYCDO to establish 'The Liberty Station Fund.' With a target fund size of at least USD 2,000, this initiative is designed to operate on principles similar to Table Banking, featuring a fixed interest rate of 10% on loans.
◎ Financial Resource Pool: This fund will serve as a substantial financial resource pool for women in Kibera. It equips them with the means to effectively tackle unexpected emergencies and adversities that may arise in their lives. By providing a safety net, it empowers women to navigate challenges with greater resilience.
◎ Entrepreneurial Catalyst: Beyond safeguarding against financial setbacks, The Liberty Station Fund is a catalyst for entrepreneurship. It encourages impoverished women to embark on entrepreneurial journeys, offering the promise of higher returns. By providing startup capital, it unlocks opportunities for these women to venture into income-generating activities.
◎ Empowering Change: The potential success of this initiative signifies a significant turning point for women in Kibera. It not only elevates their financial stability but also empowers them to shape their own destinies, breaking free from the shackles of poverty and inequality.
