CARE International Kenya - Kenya
- Kenya
- Resources
- Capacity Building
- Financial Literacy
- Financial Literacy
Key highlights
According to the Global index report
- women in the developing nations, such as Kenya, have a 20% less likelihood of owning a bank account in a formal financial institution.
- 17% less likely to formally borrow money, deficiency in their financial literacy is one of the causes
Why Financial literacy?
Financial literacy is important to women entrepreneurs as it provides them with knowledge on:
- valuing money;
- spending it;
- keeping track on spending through updated records;
- saving for the future and;
- investing in productive and sustainable activities.
What is the situation in Kenya?
Existing statistics show that lack of financial illiteracy among women:
- Remains a major hindrance to their economic empowerment.
- Makes it hard for women to navigate and use financial services, and
- Leads to inappropriate financial decisions
- Exposes women to added risk by borrowing from informal sources, saving too little, and failing to access appropriate financial services.
Various organization and institutions in Kenya have established financial literacy programmes for women entrepreneurs.
CARE International Kenya
Institution
| CARE was founded in USA in 1945 to provide aid to those who had been victims of World War II in Europe. It commenced its humanitarian assistance to the Kenyan public in 1968, under the auspices of the CARE USA. Its Operations in Kenya are in Bungoma, Busia, Embu, Garissa, Homabay, Kajiado, Kakamega, Kirinyaga, Kisii, Kisumu, Kitui, Marsabit, Migori,Nairobi, Nyandarua, Nyanza, Nyeri,Siaya, Trans Nzoia, Vihiga counties in Kenya.
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Financial Literacy Programme | CARE Kenya’s Women and Girls Economic Empowerment program’s mission is to promote positive change by providing opportunities and pathway for women and girls to access and take control of productive assets. This is to enable them to become financially included and engage them in economic empowerment initiatives to address needs of chronic livelihood of insecure women constrained by lack of access to and control over productive assets, basic services and denial of rights living in urban informal and rural settings. CARE Kenya builds on the network of CAREs Group Savings and Loans (GS&L) to bring on board range of economic empowerment “interventions that include: Financial Education/Literacy, Rural Sales Agents, Micro enterprise development, Linkages to formal financial institutions, Market engagement and Poverty Graduation Models”. Read more |
Cost of training | The training is free of charge and covers savings and credit products, processes and delivery channels including mobile technology. The beneficiaries are drawn from the zones characterized by extreme poverty, vulnerability, marginalization and exclusion. |
Duration | N/A |
Other initiatives beneficial to women | Link Up Kenya
The Program for Rural Outreach of Financial Innovations and Technologies (PROFIT) Graduation
Kenya Rural Sales
Financial Graduation |
Contacts | CARE International in Kenya |