First Lady Rachel Ruto’s table banking initiative has successfully mobilized $30 million (Ksh3.9 billion) in savings through 17,000 groups across the country.
Speaking during the conferment of the Elder of the Order of the Golden Heart (EGH) award to Princess Zahra Aga Khan, the First Lady explained how the Joyful Women Organization program has empowered women to become entrepreneurs and community leaders in the country.
“Through my office, the Joyful Women Organization, we have mobilized over USD 30 million in savings across 17,000 table banking groups, enabling women to become entrepreneurs and community leaders,” said Rachel Ruto.
She added that the grassroots economic model provides women with access to collective savings and small loans, enabling them to invest in businesses, improve household incomes, and participate actively in local economic development.
Rachel noted that her program reflects the work of the Aga Khan Development Network (AKDN) in building strong local institutions and expanding opportunities for women in Africa.
Rachel Ruto’s Table Banking for Women’s Empowerment
Beyond financial empowerment, Rachel noted that her office has implemented programs, including the Voice of Children Initiative, to support vulnerable children through education, nutrition, and safe spaces.
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Additionally, she said that clean cooking programs have been introduced to safeguard women’s health, reduce household pollution, and promote climate-smart livelihoods.
“Our clean cooking programs safeguard women’s health, reduce household pollution, and foster climate-smart livelihoods, demonstrating how targeted interventions can empower communities and build lasting resilience,” the First Lady added.
Rachel also welcomed Princess Zahra Aga Khan to partner in expanding the ongoing initiatives to strengthen local institutions and create inclusive, resilient communities across Kenya.
“Princess Zahra, your work and our initiatives share a common goal of building resilience for communities. I warmly welcome you to partner with us on these initiatives so that together we can amplify our impact and create stronger, healthier, and more inclusive communities across Kenya,” she stated.
About Joyful Women Organization
Joyful Women is a non-profit Organization that was founded in 2009 out of compassion for the women who are excluded from the financial sector but have a desire and a need to access credit and financing.
The organization was founded by Rachel Ruto out of a passion for helping women meet their basic needs and fulfill their potential.
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It facilitates economic empowerment through the table banking model, where a group meets once a month, and members save money, take loans from the previous contributions, and make repayments for loans taken.
At the joyful women’s organization, short-term loans are designed for quick access, and members can borrow up to two times their savings at a competitive interest rate of 10%.
However, for larger investments and long-term projects, members can access loans up to three times their savings at an annual interest rate of 12%, on a reducing balance.
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