July has seen the Bangla-Pesa program surpass 200 accepting businesses and the introduction of three primary schools into the mutual-credit exchange. Teachers and headmasters have been guaranteed by other members and registered as part of the trading network. Parents can pay for part of their various school fees with Bangla-Pesa which helps increase the salaries of underpaid teachers. Teachers then use the Bangla-Pesa in the community for goods and services of other participating businesses. Bangla-Pesa circulates in the community and eventually ends up back in the hand of parents who can use it for schools fees again.
This way parents can pay for part of their childrens' education with their own goods and services, especially when they are lacking in Kenyan Shillings. Generally schools allow parents to bring in as a little as 5 Bangla-Pesa per day to assist in lacking fees. School fees represent one of the largest uses of money for people in the community, so their acceptance of Bangla-Pesa is a strong boost for the local economy by allowing trade (in this case the purchase of education) to happen even when times are bad. Often parents aren't able to pay fees and their children get chased away from school or end up with a lot of debt. Bangla-Pesa allows parents to pay a small amount of Bangla-Pesa a day to make up for what they are lacking. The teachers are getting more than they were before, and chasing away less kids. A few more recent photos can be found here of a carpenter, building materials, salon and many more.
Our Recent Posts
Kenyan Women - Ahead of the IMF
February 9, 2020
Comparative Analysis of eMoney and Community Currency
February 7, 2020
Community Inclusion Currencies are Now Open Source