When women have equal control over their finances and the financial decision-making on the personal, community, and national levels, everyone benefits.
Known as the ‘cradle of humanity’, one-fifth of the Kenyan population lives on less than $1.25 a day. A country known for their world-class runners and safari adventures, Kenya is mired in poverty.
Ingrid Munro is the founder of Jamii Bora, a microfinance organization based in Nairobi, Kenya. In a country where 50% of the population lives below the poverty line, microfinance, health insurance, life insurance, and business school seem to be some of the best solutions to the countrywide struggle.
Microfinance is the practice of providing financial services—such as loans, savings, and insurance—to people with limited income and resources, who are typically excluded from the formal banking sector. These services include small loans (sometimes as little as $100) or savings plans to start a business or invest in income-generating projects. Continue reading