Back ground- (KEEF was established in 2004 "with an aim of empowering local communities" by supporting initiatives that "promote women and youth empowerment through micro credit by establishing sustainable micro enterprises in Kenya." This was part of a larger ambition to be "a dynamic sustainable and viable institution of the future where local communities have access to financial services that empower them economically and socially." Over the years, we have seen a great transformation both socially & economically to our clients
Model & methodology- KEEF has two main programs;
Women Entrepreneurship Empowerment Program and Youth Village Development Initiative—focused on empowering women and youth in rural areas with limited access to financial services. More than 80% of KEEF's clients live in rural areas. KEEF lends to individuals in solidarity groups.
A large part of KEEF's success is attributable to its unique lending model and Product offerings (see diagram retrieved from page seven of the case study).
Through loan interest, savings contributions, and Office Debt, the revolving fund grows throughout the year.
At the end of the year, group members receive a dividend, essentially a return of some of their savings, based on A formula over the course of the year.