Vinya wa Aka: an expanded microcredit model for community development
2013
Hennink, Monique | Kulb, Carolyn | Kiiti, Ndunge
Microcredit is often seen as a simple solution to poverty reduction. However, its sustainability for longer-term community development is debated. This qualitative study describes a unique community-based model of microcredit in Kenya, which includes investment, emergency loans, and social support components. In-depth interviews with group members highlighted how this model fostered longer-term economic development, financial security, and stability. However, additional social and psychological benefits were valued higher than economic gains, although both were closely intertwined as economic security reduced psychological stress. This expanded model of microcredit has the potential to contribute to sustained community development amongst poorer households.
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