Kijiji Benki (Village Bank) Microloans
He who is kind to the poor lends to the Lord, and He will reward him for what he has done.
Proverbs 19:17
The Kijiji Benki (Swahili for “village bank”) is the centerpiece of the Jubilee Village Project’s Economic Development community transformation efforts. Around the world, millions of people have been lifted out of the hopeleness of poverty through the extension of small loans ($50 – $300) through global and local microcredit programs. This financial innovation is generally considered to have originated with the Grameen Bank in Bangladesh. In that country, it has successfully enabled extremely impoverished people to engage in self-empowerment projects that allow them to generate an income and, in many cases, begin to build wealth and exit poverty.
The immediate goal of the Kijiji Benki microloan program is to make loans to ten (10) lendees by the end of 2009. On July 21st, Rose Omanya became the first recipient of a Kijiji Benki microloan. Rose received a microloan in the amount of KSHS 7,500 (US = $100) and will use these monies to take ropes she makes, as well as fruits and vegetables she buys wholesale in Kager, to sell in Kisii (28 kilometers away). She will then take the profits from these sales and bring back rice, beans, tomatoes and millet to sell in Kager. Rose will pay back this loan over a one-year period (at a 1% monthly borrowing rate) and plans to be able to make a profit of KSHS 11,000 (US = $147). Rose will use these profits to help pay school fees for her children and to expand her business opportunities. If Rose pays her loan back on-time each month, she will also earn another KSHS 471 as 50% of her interest will be repaid to her as a reward for on-time payment.
Below are all of the recipients of Kijiji Benkin microloans and how they are being used (KSHS 7,500 = US$ 100):
| Lendee | Loan Amount | Purpose |
| Rose Amanyo | KSHS 7,500 | Make and sell sissel rope; buy and resell vegetables / fruit |
| Jany Anyango Adeka | KSHS 7,500 | Dress and uniform tailoring |
| Mary Ogutu | KSHS 7,500 | Flour and enriched porridge making and selling |
| Nyakidi Women’s Group | KSHS 35,000 | Poultry raising and egg farming |
The Kijiji Benki program is administered by Brian Burgess, Economic Development Global Partner, and Caroline Kayando, Economic Development Champion. Brian and Carolyne review microloan applications from both individuals and groups, and help these people develop simple business plans to run their businesses. What we take for granted in the United States is far out of reach for most people in the developing world. It is also amazing to think that amounts that might get spent in one weekend by an American family can provide enough working capital to make a difference in an entire family’s life in Kenya.
Through the Kijiji Benki program, it truly will be possible to live out the JVP’s vision of “changing the world, one village at a time.”