Poverty Alleviation and Local Economic Development
Kenya CSR Program
Digital and financial inclusion are key enablers to reducing poverty and boosting prosperity. Digital is creating world-changing innovations, but also disrupting industry and how people work. At Temenos, we understand the need for sustainable financial inclusion and the development of healthy sustainable local financial markets and community based banking with the use of modern digital technology and services. Our approach to support the development of healthy and productive local economies is to provide them with the necessary tools and skills to overcome poverty. Africa will provide the world with the next billion people, all of whom need to be freed from the limitations of the cash economy and informal finance. The internet and the mobile phone are the tools, and Temenos will continue to lead with financial technology to continue the mission.
The Kenya CSR Program aims to support the local community of Kivandini village in Kenya to get out of poverty, in partnership with Hand in Hand International. This program started in 2019 and is scheduled to be completed in 2021. Our goal is to lift the entire community in this village including 345 people out of poverty by creating in total 241 businesses and 314 jobs. This program includes the creation of community self-help groups of trainee entrepreneurs, mainly women, who are recruited to identify community members’ needs and identify existing service providers and gaps.
Jobs created in the community
Transforming Lives and Changing Futures
Funds raised by 380 Temenos employees and partners who run 5K during our two Temenos events in 2018, along with the funds raised from the Client Voice surveys in 2018 and 2019, were used to support the local community of Kivandini village in Kenya to get out of poverty.
Through the creation of Community self-help groups of trainee entrepreneurs and trainings provided to the members, 67 members were mobilized and 30 businesses as well as 41 jobs were created in the community.
Although the program was affected by Covid-19, we managed to mobilize 161 members and create 91 businesses and 122 jobs in the community.
Through the creation of Community self-help groups of trainee entrepreneurs and trainings provided, 184 members were mobilized and 150 enterprises as well as 192 jobs were created in the Kivandini community.
Our success story
We are pleased to announce the successful completion of the Kenya CSR program. Despite the challenges experienced by COVID-19, all 345 members completed their training in areas such as financial planning, credit borrowing and repayment, and climate change resistance. With 100 percent of our targets achieved, more than 960 women, children and men will be lifted out of poverty through strengthened incomes. The program had a positive impact on family quality (greater food security and better nutrition) as well as more funds became available for their children’s education, and healthcare. The program had a positive impact on family quality due to greater food security, better nutrition and provision of funds for children education and healthcare.