How village egg banking is redefining saving

In Agribusiness, Success

One of the key barriers to saving among small holder farmers in East Africa is the lack of monetary currency.

This is due to subsistence farming that does not provide enough to sale after domestic consumption, but a team of innovators in Uganda have hatched a solution, the Village Egg Bank.

In this project every farmer contributes an egg at a time into the kitty which bulks the store to attract market leverage and ensures constant supply. The supply by each house hold is recorded whenever new eggs are brought.

The bank sells the eggs for the farmers and redistributes gains in the ratio of the number of eggs supplied by each household hence solving the cash challenge.

The idea capitalizes on the fact that chicken raring is a common practice in East Africa’s rural communities.

The project was presented by Mr Swaib Dragule, Imran Ejotre and Acaga Taban Ismael and is supported by Resilient Africa Network which seeks to reduce the impact of Climate Change among rural communities.

Key barriers

One of the key barriers to saving among small holder farmers in East Africa is the lack monetary currency.

This is due to subsistence farming that does not provide enough to sale after domestic consumption but a team of innovators in Uganda have hatched a solution, the Village Egg Bank.

READ: Why being fired is the best thing that happened to him

 The Village Egg Bank also largely contributes to food security especially for the vulnerable population. The team also envisages a similar model to be used for other potential ‘produce-based’ currencies.

Eggs from indigenous chicken are much sought after especially by urban dwellers since less chemicals are used their production and therefore considered healthier.

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