Farmers access vital financial services through the new community financial service at Kipkaren
Tanyikina dairy plant in Nandi District is one of EADD’s many supported farmer hubs that is making steady progress. As one of the pre-existing cooling plants that EADD engaged and since its re-launch in November 2008, the dairy enterprise has marked many milestones. The latest achievement was the launch of its two community financial services project popularly known as village banks.
The two village banks, called Kipkaren and Tamboche, will focus on providing financial services that will enable farmers double household dairy income through integrated intervention in dairy production, market access and knowledge application.
Members of the financial services will be able to efficiently save their milk earnings and acquire loans so as to expand their individual and group businesses.
“Through access to loan facilities, safe savings facilities, payment services, access to credit; and reliable insurance mechanisms, farmers in Kipkaren area can now expand their business thanks to the newly launched banks,” says Mr Augustine Cheriyout, EADD Kenya country project manager
The village banks will help small farmers in the area develop their own savings and credit organizations, identifying viable forms of coordination with the formal financial sector as well as facilitate direct access to financial institutions by some small producers for medium and long term investment needs.
The village bank project is a partnership between K-Rep Development Agency and EADD to establish financial service associations as part of the hub services to its membership. Currently the banks have 1671 members of which 34.5% are women. The shareholders have raised over Kshs.2 million in form of equity investment and has seen its members saving Kshs.40.3 million through it since it started operations early 2010. The two village banks were officially launched on June 22 2010 by the Minister for Livestock Development, Dr Mohamed Kuti.
In addition, EADD and Family Bank have partnered to enable dairy business service providers access loan facilities for motorbikes and other equipments required. The motor bikes will be used to enhance business development services like provision of artificial insemination services and animal health services to farmers in a timely manner.
Guarantees will come from the milk cooling plant through a check off system payment to the bank. EADD will support 10 active services providers by paying the initial 10% down payment required by the bank.
Kipkaren community financial services
Thanks for what you are doing for out people in Mosop. You are the real pillars of our local economy in the new Nandi County government. We support you all the time. Please keep on creating Jobs for the youth, that is the only way out of poverty and unemployment.
David Arap Sang
Kansas City, USA
254-541-9818
We salute you and share your enthusiasm in promoting business in this region and bringing essential services to the community.
Keep up the good of creating wealth for our communities.
Richard Korir
USA
Truly amazing, this is about bringing services closer to the people with determinationand sustained focus we will grow this idea to the level of the world reknown equity bank. Keep up the good work
Wonderful!The two projects are in my rural home and had a chance to visit them over Christmas holidays. This is real service to the people. EADD and partners you are great. Keep on!
As a Dairy Scientist myself, and a native of Nandi County, I was thrilled when I visited the plant on 31st of Dec 2010. A great effort aimed at value-addition, we applaud the work you are doing. I thought the banking services were also revolutionising the area. Now, how about thinking of processing the milk so that the value were increased. Please help where you can. The success of the Tany-Kina, Kabiyet, Tindiret and soon-to-start CHEDA at Chemundu should take the farmer in Nandi to a new high. If you need any technical help, let me know.
We constantly need enlightened locals to assist with a thing or two. Please send us your details for a more specific response.
Thank you for your kind words and encouragement.
Moses
Regional Director, EADD
Hello,
Bringing development to the people at the grass root level is key to Sustainable development. Thank you EADD and K-rep. Am proud of all the stakeholders. Utilize the Village Bank facility!!! That is the advice i can give the people of Nandi.
Student
Boston, USA
Hello Abraham
We are looking for empowered locals to provide guidance to our cooperatives on ongoing basis. Please share with us your details for possible consideration.
Best regards
Moses
Regional Director, EADD
moses.nyabila@eadairy.org
since thd inception of the village banks it has assist many farmers to opened up accounts and starts savings which has been of much help in secuaring loans and have transform their living standards
Dear Alfred
Thanks for your feed back. Please share with us how the village bank has been of help to you personally.
Best regards
Moses
I urge all the members to utilize the facilities here in Nandi County, I don’t see why we should not build our own systems to be able to build a sustainable County government.
All the guys who are abroad are urged to invest further in the projects undertaken back here in the villages to be able root out unnecessary poverty amongst our people.