Kiva.org is pleased to announce our newest partner, SEED (Supporting Enterprises for Economic Development) in Kenya.
SEED Development Group is a unique microfinance organization that employs practical microfinance and microenterprise approaches to comprehensively address the needs of rural people. SEED is in the process of scaling up its operations from a community-based organization to a comprehensive one-stop microfinance services organization.
SEED projects combine microfinance with aspects of microenterprises to enable clients to achieve 70% growth within the first 12 months of membership. The project promotes affordable and accessible savings and credit products. In particular, SEED offers a Micro-Asset Finance loan product that provides credit for dairy goats, beehives, and indigenous poultry. SEED has moved beyond “credit for enterprise” to encompass “financial services to reduce vulnerability and improve livelihoods” in line with the Millennium Development Goals.
SEED has 14 centres in Siaya, Busia, Nyando and Kisumu District spread across Kenya's Western region, and notes the following achievementsSEED micro-finance now has over 3,000 registered members accessing affordable financial services. 1,225 members have received loans to date. These loans have been used for a diverse range of activities including improving home farms, starting and expanding microenterprises, building latrines in family compounds to improve health and sanitation, and paying high school fees. Many members who received loans now have increased food security or increased income as a direct result of the loans provided. Tekmology, a local partner, works with SEED to assist microenterprises in identifying ready markets for honey, local poultry, building shelter, peanuts and sweet potatoes
Kiva.org is very pleased to be in partnership with SEED and we look forward to watching the success of entrepreneurs building businesses through SEED.