MICRO-FINANCE
BGF has collaborated with K-Rep Fedha Services Ltd to establish Village Banks or Financial Services Associations in the Seven Forks area of Kenya, specifically in Kasten, Mbuvu Location, Eastern Kitui County (established in 2013), and Kamuwongo town, Western Kitui County (launched in 2017). These Village Banks have provided loans to numerous farmers, enabling them to address various needs such as paying school fees, starting small businesses, and overall enhancing their quality of life. Both Village Banks are currently operating successfully, serving a large and expanding clientele.
REVOLVING FUND
BGF extends financial assistance to communities in Uganda by contributing to a Revolving Fund managed by YICAFA, our partnering farmer organization in Northern Uganda. This funding is utilized for the propagation and cultivation of cassava, serving the dual purpose of ensuring food security and generating income for the community.
Kamuwongo Village Bank Empowers Sustainability
Since its establishment in 2017, the Kamuwongo Village Bank serves more than 3,000 households, encompassing 4,500 savings accounts. These households, predominantly partner-farmers affiliated with BGF, have undergone capacity building in financial literacy, covering topics such as loans, interest rates, insurances, and savings accounts. The Village Bank offers diverse loan packages for purposes including school fees, general development, business initiatives, acquisition of assets (e.g., water pump, motorbike), emergencies (e.g., sickness, accidents), and seasonal needs (e.g., purchase of farm produce).