Christian Community Healthcare Foundation- Kenya (COHECF-KENYA) - Kenya
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.
Organisations with Financial Literacy services
Registered in 2017, Christian Community Healthcare Foundation- Kenya (COHECF-KENYA) is a nonsectarian and not-for-profit-making organization whose main goal is to empower communities for sustainable development through key pillars of Health, Education, Peace,
Economic Empowerment and Agriculture.
Financial Literacy Programme
In order to enhance the capacity of the youth and women in Kenya, COHECF-KENYA focuses on
Women’s Economic Empowerment and Literacy Training (WEELT) which is an integrated
literacy program for women in literacy and saving and credit groups.
It also focuses on improving financial literacy and awareness as well as
P.O Box 2064-30200, Kitale,Kenya