Kibera has finally received its first community currency thanks to the launch of Lindi-Pesa, a program that was unveiled on Saturday by The Lindi Business Network. Lindi-Pesa is the fourth community currency after Bangla-Pesa in Mombasa, Gatina-Pesa in Dagoretti and Kangemi-pesa in Kangemi.
The launch was staged at Kibera social ground attracting many residents who came to witness and perhaps to join the Network that so far has a hundred and sixty registered members. In attendance were also German dignitaries behind the program as well as local government officials.
According Charles Chacha who is the Secretary of Lindi Business Network, the currency is meant to uplift business owners in Kibera area who shall have registered with the network. Each member of the network will be encouraged to support and barter trade with each other using the Lindi-pesa in order to increase the local economy.
“Lindi-Pesa has been brought to empower small business entrepreneurs in Kibera just as it happens with Bangla-Pesa, Gatina-Pesa and Kangemi-Pesa. It is in a form of currency voucher with denominations of Sh5, Sh10, Sh20, Sh50 and Sh100. These vouchers can only be used by registered members within the network,” explained Chacha.
Mr. Chacha simply explains how the Voucher works, “For instance if a member is selling a can of charcoal at Sh50, a registered buyer can get the charcoal by paying using a voucher of 20 Lindi-Pesa plus Sh30. This therefore means that the buyer would have saved Sh20 that can in turn be used normally.”
He further clarifies that The Lindi Business Network is a Community Based Organization that is registered to operate according to the relevant regulations.
According to the officials, community currency is legalized in Kenya since it does not run parallel to the National currency but represent the foundation of what is rapidly becoming a global movement toward democratic and decentralized monetary systems.
Community currencies are gradually shaping trade in the informal settlements with high population where most people are running small business enterprises.