Savings Groups
Savings Groups Investing for the Future
Within Kibera New Life Church (KNLC), and also among the missionaries supported by KNLC, various Savings Groups have been formed. The Savings Groups are groups that are made up of six to ten people who understand the importance and potential of saving for the future.
The group members meet regularly to learn financial literacy skills and contribute some of their earnings to a common savings fund. After the group accumulates enough money, loans can be made to Savings Group members. The Savings Groups function like a small bank that is owned and operated by the group; they provide a source of funds to meet expected and unexpected expenses of owning a small business. They also enable members to start a small business and avoid predatory lenders within the community. The Savings Groups offer peace of mind to members and help them dream about achieving their goals and dreams for the future.
