Women in Kikuyu Sub-County have been encouraged to embrace table banking as it will empower them fight poverty and improve their living standards.
Speaking at a table banking forum in Kikuyu township on Friday, the area Chairperson of Maendeleo ya Wanawake, Rehab Kehubu said although the population is made up of more women than men yet only a few of them are wealthy.
She stated that something should be done to enable women develop in the area and alleviate the situation, attributing poverty to inaccessibility to resources like jobs and land.
Kehubu also blamed traditions and customs which have prevented women from inheriting property encouraging many women, especially single mothers, to join table banking to better their living standards.
She stated that ‘Ngumbatu’ as table banking is popularly known in the area, means grasping of money which has been collected from members of a group creating an opportunity for women engage in income generating activities.
The executive director for one of the leading table banking group in the area, Jennifer Ngugi described table banking as a group funding strategy where members of a particular group meet once every month.
She stated that the loans acquired were repaid at minimal interest compared to banks and encouraged many women to form groups so that they can be more visible as opposed to small groups.