TEACHING-EMPOWERING-MENTORING-BUILDING OPPORTUNITY Mission: to partner with individuals and communities in Western Kenya to support entrepreneurial activities, education and health through training programmes, scholarships, water and sanitation projects

Wednesday, December 19, 2012

What is table banking?

Table banking is being used by many groups now. It has more structure than in many arrangements popularly called ‘merry-go-round’ where people have no repayment schedule. Often they just pay interest on the loan & the group cannot lend again because the capital is tied up. So with TB the group has to set rules for lending & repayment. Also having shares requires rules and gives people ‘ownership’ They have to be more business like & assess the capability of an applicant to repay. They also have to separate ‘compassionate’ handouts or loans (for eg sickness & funerals) from the real ‘banking’ business. They are in fact setting up a small bank. I gave them a number of case studies to look at where they could see what people had done both with small loans and with ‘top up’ loans for larger amounts. We had nearly 30 people for the morning. Both Safaricom & Airtel are offering loans through the mobile phones. The interest rates are low but the repayment period is short.

Creating a savings culture is very important. One woman said at the end that she had never realised that it was worth saving even 50/- a week and that it would amount to something if she bought shares.

12 comments:

  1. very informative blog thank you.

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  2. Good Idea. How does a group start one!

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  3. Good to here this information. Can the group lend money to outsiders/non members?

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    1. Simply said NO. "Table bankers" are a close knot group defined by a common factor. Could be work place, friendship, business relationship etc. Such a relationship is in effect the collateral that holds the group accountable. The non member seeking the loan can only do so through a member who in turn is accountable to the rest of the group.

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  4. thanks for sharing the information

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