Eco-Pesa Pioneers Sustainable Digital Currency Solutions

Eco-Pesa is a digital currency that allows users to send and receive money using their mobile phones.

In Kenya, Eco-Pesa has been used by over 1 million people to make transactions and save money.

The platform has also partnered with local businesses to offer a range of services, including loans and insurance.

By using Eco-Pesa, users can avoid the need for cash and the associated costs of handling and storing it.

Eco-Pesa is a mobile-based savings and credit platform that allows individuals to save and borrow money in a secure and convenient way.

It was launched in Kenya in 2007 and has since grown to become one of the largest mobile-based savings and credit platforms in the world.

Eco-Pesa has over 25 million active customers and has disbursed over $10 billion in loans.

The platform allows users to save as little as $0.01 and borrow up to $500.

Eco-Pesa has a strong focus on financial inclusion, aiming to provide access to financial services for underserved populations.

It has partnered with local organizations to provide financial education and training to its customers.

Eco-Pesa has also been recognized for its innovative approach to mobile-based savings and credit, winning several awards including the 2010 GSMA Global Mobile Award for Best Mobile Financial Service.

Eco-Pesa has been inspired by the Schumacher Center for a New Economics, a pioneer in developing local currencies. The Schumacher Center's BerkShares is a historic example of a regional currency in Massachusetts.

Susan Witt, the Executive Director of the Schumacher Center, provided valuable advice to Eco-Pesa's founder, who called her from a Mombasa calling booth at 70 Kenyan Shillings a minute.

Developing community currencies in Kenya didn't follow a cookie-cutter approach, and Eco-Pesa learned from the Schumacher Center's experiences. The Schumacher Center's patient advice has paid off, with Eco-Pesa developing community currencies in regions around Kenya and training groups in South Africa, Nigeria, and Uganda.

Since 2010, Eco-Pesa has worked with over 2000 businesses, community groups, schools, and clinics across Africa to develop cooperative businesses and 8 regional community currencies.