The institution was started in 2005 as a self-help group for 7 women running small quarry businesses in Njiru, Nairobi. The lending services were officially separated from the Self-Help Group with the formation of the Credit and Savings society in mid 2008, at which point they had only 12 members. By February 2009, it was officially recognized by the government of Kenya as a Savings and Credit Co-Operative (SACCO), and by June 2009 it has registered over 5000 members.
Most of its clients have businesses in the Gikomba and Muthurwa markets closely neighboring the head office within Nairobi city. These are especially large markets and serve a large part of the city. A number of other clients work or reside in slums in various parts of Nairobi including Kibera, Mathare and Kayole.
All the micro finance operations happen at a very personal level. Beginning with registration, most members either approach or are approached by a field credit officer during a field visit (usually to meet with other clients). The business assessments take place shortly after when a field officer visits the site and interviews the client and related individuals. Before the loan is disbursed, savings are collected either by client visits to the head office, by field credit officer visits to the client’s home or business or through mobile banking services (M-Pesa). The loan is disbursed and repayments collected through the same techniques (office visits, field visits, or mobile banking). Other services, such as larger loans, insurance and investments are promoted by the field officer or requested by the client him/herself. Once the client’s credit trustworthiness has been established, in-person meetings can be replaced with telephone contact.
The organization is very successful in the current market. Recruiting new members and deepening relationships with current clients is not an area of need. It is seeking support most of all to find ways to allow their operations to meet the seemingly endless demand. To achieve this, the areas of operation that will require the most expansion include investments (of funds to use as loans), staff and staff training, equipment and technology, and policy improvement.
The Micro finance requires volunteers who will assist in the following one or several of the following areas:
- Microfinance policy and Operations
- Investor Relations and Fundraising
- Staff Training
- Product Assessment, Improvement and Development
- Client Marketing and Communications
- Development of Health and Wellness Programs
- Development of Business, Banking and Book keeping Lessons
- Human resources
- Policy Documentation
- Accounting and Finance
- Field Reporters
- Development of Online Marketplace
- Independent Research
- Create a project for future Interns
Detailed information on all the areas is available for any interested volunteer by sending an email to
info@worldcorps.or.ke
Location
The project is within the Nairobi city and can be accessed by public bus from the host family and it only takes 20 minutes one can walk form the city center.
The volunteer will be accommodated in a host family within Nairobi in a house with the basic facility of any person living in the city which are; a private room, bathroom with a shower and a flushing toilet which will be shared with the rest of the family members, breakfast and dinner will be taken together with the rest of the family but the volunteer has to carry packed lunch since it will not be possible to come back home for lunch. Alternatively the volunteer has to buy lunch within the city at his/her own expense.
Languages
English
Costs
Euros 100- Registration fee and Euros 300 Monthly
Costs include:
Airport transfer
In country orientation and training
In country staff support
Written materials pre departure
Communication
Food
Accommodation
World Corps Kenya Volunteer program T-Shirt
Certificate for completion
