Americans frequently lend a helping-hand to orphans in Africa by building hospitals, houses and schools, but it's not often that the children are given a credit union.

In July 2013, the first credit union–Marafiki SACCO–located in the tiny village of Nderi Town in Kenya is scheduled to open in a former pigpen. The CEO is himself an orphan from Nderi Town.

"It is the first [credit union] for Rafiki Children's Center targeting HIV/AIDS orphans with the goal of empowering them after the death of their loved ones," said Rev. John Nganga.  "We have other SACCO's in Kenya, but no one has targeted this population."

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.