[GSEF2016]: Community currencies for sustainable African cities, businesses, schools and farmers

SSE Organisation
Social Finance / Impact Measurement

Presented at: GSEF2016 Montreal 

Organisation: Grassroots Economics Foundation (Social and Solidarity Economy Organization)

Date: September 7, 2016

Presenter: Ms. Caroline Dama (Program Coordinator)

Contacts:  dama@grassrootseconomics.org


Community currency innovations in Kenya have given rise to a new way to access and issue credit for more than 600 businesses since their creation. By forming networks of hundreds of small businesses and schools, members can formalize informal debt structures and assets into a medium of exchange to augment a chronic lack of national currency. Community currencies offer the informal sector businesses -over 50% of the African economies and majorly run by women - a way to access credit and also take part in participatory municipal financing by collecting taxes in community currencies.