Kenia / Kitui: PBF funded KICABA micro-credits, Annual report year 2015
Executive summary
This report covers a whole year but more specifically a period between April, 1st 2015 up to 31st December, 2015 because the other prior months had been accounted. The report covers micro-credit programme and shall comprise both narrative and financial.
The year 2015 remains a time of great success for the KICABA micro- entrepreneurs as many clients got loans mostly for expanding their businesses. It was also a time of great achievements because many people benefited through group loans which created indirect impact on household incomes.
Over the said Period, the micro- credit funds send in our accounts amounted to KES 1,163,400.55 which served in overall 110 clients. The expenditure for the said period was Ksh 1,094,250.00 leaving a balance of KES 69,150.55
PBF continues to be an icon of hope for many micro-credit clients in Kitui with great community impact
The loaning procedure
Loaning for the year 2015 focused more on groups. Group loans were seen to benefiting many people for within a group there is cohesion, sharing of expertise, enrichment of skills and so on. A group that chooses a common project would share together their diversity of ideas and as a team synergize each other, face challenges together and are able to advise each other..
Over the said period , individuals loaning too was promoted. The entrepreneurial behavior of individual would grow very fast when allowed to work alone
In the year 2015 a total 110 clients were reached, 10 of which got individual loans while 100 clients were reached through groups.
The successful over the period
There are many successful stories to share that has made PBF an icon for promoting the welfare of the poor. Kitui has benefited a lot and more poor people look upon PBF through KICABA to start micro-businesses that make a lot of impact on the individuals and households as well. Below here, five businesses have been singled out as examples.
- Outside catering business of Fidelis Maangi group
Maangi is an entrepreneur who has taken outside catering services as a business under the name Kamwamaa caters. He works with a team of twenty people in providing food during weddings, funerals, church functions, village gatherings and so on.
Through the PBF funds, he and his group have managed purchase more utensils and promoted their business. Their services have a high demand and are called to serve in many occasions. The more they do, the more their family incomes are generated.
- Mechanics business of Sylvester Wambua
Sylvester is a mechanic at Jua kali sheds. “Jua Kali” means-people who work under the hot sun in an open space. He had a very small space originally, but through PBF loan he has expanded the place, employed two more people and trains about 8 young people on mechanics. He runs a small spares shop inside his garage.
- Weaving business of Katulani group
This is a group of 25 women who earn their living through weaving and selling of their products. Before they joined KICABA micro-credit they were doing very little, did not have a market for their items. Funds from PBF have promoted them in purchasing assorted items for weaving and founded a common market for the products. They have weaved and sold items to tourists, hotels, house holders and have been very successful
- Wholesale business Joseph Nguthu(Kaundu)
Joseph runs a small wholesale shop at Kalundu market. The PBF funds have been beneficial in increasing stock and have given him capacity to employ other more people. The creation work for more people have impacted positively on the community. He opes in future to put up a big wholesale shop.
- Tailoring business of redempter Peter
She runs a tailor shop. She is an entrepreneur who is very creative and does fashion designing for different types of clothing for local hotels. PBF funds have assisted her to grow her business. Through the support she has employed one more lady. Her hope is to begin a fashions and design school for school leavers.
The challenges
Financial resources are inadequate to meet client needs.
Some groups and individuals lack business skills which are key successful business venture.
The request for funding:
The K ICABA micro- credit programme would like to request for funding to continue supporting the very needy of the community in building up their lives. While economically the prices of items are going up, our local clients have made it and would like to have more support as well as those whom we have not yet supported.
The approximate request is to support more 50 clients with KES 50,000 totaling to KES 2. 5 million over the coming 12 months.
The conclusion:
The PBF will ever remain to be remembered in the history of the people of Kitui. Many poor people have benefitted, many more need help. KICABA will continue working for the course of the needy people in Kitui.