Karibu Forum Kenya
Forum Kenya Development Foundation is a registered Non-Governmental Organization in Kenya, focused on empowering Self-Help Groups and Community-Based Organizations through the Revolving Loan Fund.
This initiative provides loans for small business development, with funds rotating among community members. As loans are repaid, new loans are issued to other individuals.
Our groups meet monthly, fostering community engagement and ensuring the effective management of the fund.
Brief Information For New Members
Membership and Registration
- Groups consist of 7-15 members, all 18+ and from the same locality.
- Initial registration fee of KES 300, increasing by KES 50 monthly for new members.
Members Passbooks
- Issued at KES 200 each, recording savings and loan repayments.
- Mandatory during the meetings.
Monthly Savings
- Minimum KES 400.
- Maximum considerable KES 2,000
- Refundable upon resignation, after full loan repayment.
Starter Loan
- Initial 3 months of group
- Repay next month with 10% interest.
Advance Loan
- Post 3 months of a group
- Up to 2x savings
- Repay within 5 months
- 10% monthly interest on reducing balance.
Long Term Loan
- Loans up to 3x savings
- Minimum in multiples of 5,000/=
- Requires 3 months of consistent saving, flexible repayment, mandatory meeting attendance.
Risk Fund
- Monthly contribution of KES 30.
- New members back-pay based on group’s age.
- Coverage for death and incapacitation, with specific compensation protocols.
Resignation
- Written notice required 3 months in advance.
- Ineligible to resign with outstanding financial obligations.
Member Identification
- Mandatory Forum Kenya Membership ID Card, or alternative IDs for interim.
Year-End Bonus/Dividend
- Calculated on cumulative savings, focusing on consistency and frequency.
Contacts and Social Media
- Office lines: 020-8004707, 0110-047074
- Text us on Whatsapp
- Email: info@forumkenya.org
- Facebook: Forum Kenya
- Twitter: @Forum254