Brook bank is a financial empowerment program for widows to gain access to capital in order to launch micro-enterprises and was founded by Heather Ibrahim- Leathers the president of Global Funds for Widows (GFW). Once widows invest in their own Brook bank, Global Funds for Widows matches each investment in the ratio of 2:1 then give them the whole amount after matching their investment.
Ruiru Widows (Widows of Hope)
Widows of hope is a registered widows’ group The group is made up of Twenty-five widows. The members of the group are mostly casual labourers or small-scale business owners who highly depend on the groups’ table banking for support in form of loans.
The group meets once in a week.
CTWOO introduced a brook bank project which is financial empowerment to gain access to capital in order to launch micro-enterprises and was founded by Heather Ibrahim- Leathers the president of Global Funds for Widows (GFW).
Once widows invest in their own Brook bank, Global Funds for Widows matches each investment in the ratio of 2:1 then give them the whole amount after matching their investment.
The main aim of the brook bank is to:
- Provide the most vulnerable widows with loans and savings used to increase their income-generating abilities.
- Financial security
- Reduces exposure of girls to early marriages and the need for parents or caregivers to rely on child labour
- Skills training to members to invest in their own income-generation activities, tap into government services and eventually qualify for microfinance or employment in local businesses.
Widows of Hope have been able to benefit from this project and they have been able to: Establish and expand sustainable micro-enterprises for the widows promoting Sustainable development Goal (SDG 8) Decent Work and Economic Growth.
25 Lucky Sisters-Eastleigh
25 LUCKY SISTERS is a widow group member-owned and composed of Twenty-Five members from informal settlement of Eastleigh, who save together.
They use a simple, transparent method to accumulate and convert small amounts of cash into savings that then lent to members as credit. The groups meet twice a month.
They benefited from Brook Bank and they have been able to increase their revolving funds. Brook Bank provide critical financing when credit access is limited. Widows benefit from flexible and favourable terms, and financial institutions enjoy lower overall risk in supporting small businesses.
Kimende Brook Bank (Sally Widows Groups)
Sally widows is a registered widows group consisting of Twenty-Five widows in Lari constituency. The widows engage in table banking where the members borrow and save to sustain their small-scale business and meets once a week.
Sally widow’s Economic empowerment project has enabled the widows to take part and benefit from growth processes in ways that recognize the value of their contributions, respect their dignity and make it possible to negotiate a fairer distribution of the benefits of growth.
It will increase Sally widows’ access to economic resources and opportunities such as financial services, skills development and market information. This is a prerequisite for sustainable development and for achieving the sustainable Development Goals.