As a mutual-credit system for SMEs in an impoverished district of Mombasa, Kenya, the Bangla-Pesa allows members to trade goods and services with one another regardless of their conventional money supply.
Over 200 SMEs are currently part of the network, which itself is only one facet of a wider poverty-reduction programme. The currency was introduced by Koru Kenya, a local NGO working on economic relief and stabilisation.
As 75% of the SMEs in the area are owned by women, the Bangla- Pesa is also proving to be a useful tool for reducing both gender and economic inequalities. According to research carried out in 2014, the ‘typical’ network member is a 35-year-old mother who identifies herself as the main provider for 2-3 children.