It's official: Five Talents Kenya was launched today in a colorful ceremony attended by bishops from across Kenya and friends of Five Talents from around the world.
Five Talents has operated in Kenya since 2004, developing a strong model for savings-led trust groups that encourage local savings and business development and blossom into community banks.
To date, Five Talents has helped to form 3 community banks and thousands of savings groups, focusing on underserved and low-income rural communities. Savings group members receive training in entrepreneurship, business management, and leadership. They also find spiritual mentorship and a supportive, nurturing community of friends. The majority of participants are women who create new jobs and build small businesses that support their families.
Five Talents Kenya is one of the most successful microfinance programs in Eastern Africa, serving the rural poor with over 99% repayment on loans and rapidly growing portfolios.
There are currently over 11,000 savings group members in three key regions of the country, Thika, Embu, and Nakuru. Five Talents has worked closely with the Anglican Dioceses in these areas and is in the process of expanding into three more: Kericho, Mbeere, and Murang'a South.
The launch of Five Talents Kenya will aid in continued growth of savings and financial inclusion programs in Kenya and demonstrates a commitment to local leadership and sustainable development.
Photos from top: Five Talents Kenya unveils its new banner; Kitui-Gatana savings groups gather in the shade of a tree (Adam Dickens Photography); Marigat, a savings group secretary showcases her business (Adam Dickens Photography); Ret. Bishop Gideon Githaiga of Thika Diocese stands with Peterson Karanja, program leader for Thika Community Development Trust.