Most youths and women have been having a hard time making ends meet due to the high cost of living and the growing prevalence of unemployment.
But once Jill Biden, the first lady of the United States of America, visited Kenya, things began to change. In light of the recent innovation in the world of finance represented by table banking, women and young people have reason to rejoice. It is hoped that Jill Biden's program would introduce young people and women to the world of banking and provide them with the tools they need to succeed.
It has been reported that table banking is a trust-based economic loaning method based on Muhammad Yunus's microfinancing practice in Bangladesh.
Women in Kenya have been using table banking successfully to take charge of their financial lives and reap the benefits of Kenya's booming economy.
According to Joyful Women Kenya, there are now more than 400 separate table banking organizations operating in the city of Nairobi. Together, table banking groups in Kenya move between 60 and 80 million Kenyan shillings (or around $793,259.30 and 1,057,679.07 Canadian dollars) every year.
Jill Biden's program will provide up-to-date information to women and young people in Kenya, allowing them to get employment and raise their level of life.
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