Kinondo Financial Services Association (KFSA) is a community owned and managed initiative that strives to provide a wide range of financial services to the poor local community in Kwale County.
Kinondo Financial Services Association (KFSA) is a community owned and managed initiative that strives to provide a wide range of financial services to the poor local community in Kwale County. The facility was initiated in the year 2003, as part of the larger Kaya Kinondo Community Ecotourism Project with the support of WWF-Kenya. The FSA model in which Kinondo was founded place more weight on social transformation and protecting environmental capital. Kaya Kinondo Village bank is one among few village banks in Kwale County. The facility currently has a membership of 2298 (1008 males, 1098 females and 192 groups).
For effective functioning and service delivery, WWF-Kenya is supporting the association to finalize its strategic plan and register as a Savings and credit cooperative society (SACCO) in Kenya. The association is finalizing its strategic plan and has since conducted a study visit to one of the best performing SACCOs in the Coast Region; Qwetu Sacco in Wundanyi, Taita-Taveta County for benchmarking.
The association seeks to ensure that as many poor community members as possible have access to affordable and appropriate range of high quality financial services including credit, saving, fund transfer and cheque clearance. The ultimate goal is to help the poor get out of poverty by providing financial services that create jobs, earn extra income and improve their wellbeing.