But these challenging circumstances met Hellen’s enterprising nature and World Renew — and those two things together have dramatically changed her life. In 2015, Hellen joined a village savings and loan association, or VSLA, made possible by World Renew Kenya. A VSLA is a community-tended “bank,” operated by participating members who encourage each other in saving and offer each other low-interest loans that are otherwise unavailable to people of their financial circumstances.
With entrepreneurial spirit, Hellen joined the VSLA in September 2015 and wasted no time in using her new ability to borrow money to start changing her circumstances. She used her first loan of 5,000 KES (Kenyan shillings), or 49 USD, to buy a shaving machine and started a barber business, from which she earns about 400 KES (4 USD) a day. After paying off that loan to the VSLA, Helen continued saving.
Next, bolstered by the support of her fellow savers and the success of her barbering business, Hellen has taken out and repaid three more loans. With the second and third loans, she bought a solar panel, a television, a video machine, speaker, amplifier, and a battery, and promptly opened video-showing and phone-charging businesses, which have added another 400-1000 KES (4-10 USD) per day to her household income.
Hellen used her fourth loan to buy water pipes, which she used to bring water to her house. Now her family has ready access to water — and yes, Hellen opened another business! She now sells water to her neighbors and makes another 100-200 KES (1-2 USD) per day.
Her husband was motivated by these successes. With the VSLA’s loan-lending at capacity, he secured a loan from a bank and, together with Hellen’s savings, they have invested in another business venture with the purchase of a maize-milling machine. Their milling brings in 400-800 KES, or 4-8 USD, per day.
Hellen’s five businesses have added up to 2464 KES (24 USD) per day to her family’s income. Her life has changed. She can afford to feed, educate, and clothe her extended family, and gives cheerfully to the church. Hellen is encouraged by her success and isn’t ready to stop; she has plans to invest next in a water tank.
“Our VSLA has uplifted my life,” Hellen says. “I was poor, but now I live well. Thank World Renew for their support.”
A VSLA has allowed Hellen’s entrepreneurial spirit to flourish. In the span of just two years, she has started five businesses and is truly changing her story.
Reported by David Kangangi
World Renew Project Officer