Murimi Group

One of our all-male microloan groups was funded last year and is doing well in its loan repayment process. Murimi Group was founded in April 2010 and received funding from Village Hopecore on September 2011.  The group comprises individuals with a vision of promoting their individual enterprises to improve their economic and social livelihood. At inception, they agreed to have the following activities to enhance their group cohesiveness, integration and strengthen its peer pressure mechanisms:

• Merry-go-rounds where members contribute Kshs 100 ($1.07) weekly and the money is given to every group member on a rotational basis. They use the money to buy household items or add stocks to their businesses.

• Soft loan. The group members contribute a minimum of Kshs 200 ($2.14) monthly; currently, the group has accumulated Kshs 20,000 ($214.98). The money is given out to members through small loans and the amount they can borrow is determined by the amount they contributed.