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Access to finance (Eco-credit)
The Eco-credit project commenced in 2021 in Kwale County with financial support from Blue Ventures (BV) and technical support from Green Finance Systems (GreenFi). The project aims to provide access to credit as an incentive for marine conservation.
The model
In the model, a group member borrows and repays a loan while committing to engage in environmental conservation activities such as mangrove restorative activities, beach clean-ups and raising awareness. The goal is to improve long-term environmental and economic resilience within the community.
After a successful pilot with 12 groups, 19 new eco-credit groups have been added with support from NORAD and Livelihood Impact Fund. The total amount of seed grants issued sums to Ksh 3,135,000 ($24,290)
Milestones in eco-credit
Between 2022 and 2024, the number of direct beneficiaries increased from 278 to 831, with 16% being youth. During this period, members received a total of 1,941 loans amounting to Ksh 16,228,240 ($125,737).
Currently, 668 outstanding loans valued at Ksh 5,709,569 ($44,238) demonstrate a high loan uptake rate.
In terms of environmental actions tied to the loans, a total of 160,000 mangroves were planted in degraded areas covering 16 ha, and 32 patrols conducted at the restored sites.
In terms of compliance to BMU by-laws, 79% of members renewed their membership in 2024, while 71% of fishers with membership in Eco-credit groups renewed their licenses.
The Impact
Our Impact
- Direct beneficiaries have increased from 278 to 831 between 2022 and 2024. 16% of the beneficiaries being youth.
- 60% average loan interest, loan penalties, loan form fees, registration fees, and profits from group businesses
- Average loan issued per member has grown from Ksh 2,600 ($20.14) to Ksh 25,000 ($193.70)
- Currently, the total eco-credit group savings amounts Ksh 4,379,840(33,935).
- 28 new businesses have been started with the eco-credit loans and 123 existing businesses expanded.
- 11.7 tonnes of waste collected from 129 beach clean-ups in 2024
- 2,580 community members reached through 26 awareness sessions
- 16ha of degraded mangroves restored
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"Eco-credit is different compared to other schemes we have access to. In Eco-credit, we conserve the environment and at the same time get loans in form of money which we use to empower ourselves by starting and expanding our businesses and also take our children to school." Mwandazi Kassim Shee, Member Majoreni Eco-credit group
"Eco-credit is different compared to other schemes we have access to. In Eco-credit, we conserve the environment and at the same time get loans in form of money which we use to empower ourselves by starting and expanding our businesses and also take our children to school." Mwandazi Kassim Shee, Member Majoreni Eco-credit group
Stay updated
Our annual newsletter highlights our program impacts and updates on livelihood and conservation activities and milestones.
