Kisumu community looks to investment clubs for economic freedom
Caroline Onyango of Nenombele group at her shop in Kisumu. Kisumu’s low-income earners are fighting poverty using investment clubs that allow them to take loans to start small businesses. Residents have formed a community-based organisation called Nenombele that has groups of between 25 to 40 members where one can save money, take a loan and invest in business.
John Otieno, the chairman of one of the groups, said unemployment was a burden in the community as jobless youth would terrorise and steal from residents, frustrating everyone’s effort of self-development. “Some were not even getting married for lack of income to bring up families,” said Mr Otieno.
“We thought of empowering them to reduce crime due to poverty,” he said.... Read the full, comprehensive news article and discuss at Business Daily AfricaSimilar Stories