The Pangea Network - 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.
The Pangea Network
| Institution
| The Pangea Network is an international non-profit organization that is committed to equipping motivated individuals in Kenya with the skills and knowledge in order to achieve their dreams and make positive contributions in the communities they live in.
|
| Financial Literacy Programme | The Pangea Kenyan Women’s Network introduces women groups to a comprehensive and tested 4-year program and curriculum that equips them with knowledge and skills in financial literacy. In turn, they engage in small business that generate revenue therefore enabling them to provide for themselves and their families as well as become vital members of their community.
|
| Cost of training | The training is free of charge and coversbasic bookkeeping, basic business skills, health and wellness practices, personal development, human rights, as well as a micro-financing program Trainings are conducted in partnership with women’s groups throughout Kenya.
|
| Duration | Quarterly trainings Monthly monitoring of the group and progress is assessed through annual surveys. |
| Other initiatives beneficial to women | Trainings in personal hygiene, basic nutrition, reproductive health
Trainings in human rights, leadership, personal development
Education program
Animal husbandry training and livestock
First aid training |
| Contacts | Karen Plains Arcade |