MICROCAPITAL STORY: Unitus, Inc. and Whole Planet Foundation Announce Partnership With Jamii Bora Trust, a Kenyan MFI

Unitus, Inc. and Whole Planet Foundation (WPF), a Whole Foods Market foundation, announced plans to fuel the growth of microfinance in the coffee-growing regions of Kenya.  Specifically, the two will support Jamii Bora Trust, one of Kenya’s fastest growing microfinance institutions and a Unitus partner since 2003, expand into the rural coffee-growing regions of Central and Eastern provinces in Kenya.  This agreement, the amount of which was undisclosed, marks Whole Planet Foundation’s first entry into Africa.

amii Bora was established in 1999 for the initial benefit of 50 street beggars in Nairobi.  As of September 2008, the organization had grown to 170,000 members and 86 branches.  Kenya is the 17th largest producer of coffee in the world with an estimated six million people employed in the coffee growing and producing industries.  Coffee farmers are susceptible to the fluctuating global commodities market, climate change, political trends, and widespread rural poverty.  The partnership with Unitus and WPF will allow Jamii Bora to fund its continued rapid growth, develop new technology, and create new financial products to meet the financial needs of the coffee farmers.  

Unitus is an international nonprofit organization that seeks to reduce global poverty by increasing access to microfinance services.  Unitus partners with microfinance organizations and employs its Unitus Acceleration Modelin order to accelerate the growth and increase the reach of these MFIs.  The company contends that its partner MFIs add clients 7 times faster than the industry average.  Currently, the Unitus portfolio reaches over 6 million families through 23 partners in India and Southeast Asia, East Africa, Mexico, and South America.  The company has set a goal of reaching more than 15 million of the world’s working poor by 2010.

Established in 2006 with a parntership with Grameen Trust, the mission of Whole Planet Foundation is to create economic partnerships through microcredit with the poor in communities that supply Whole Foods Market stores with products.  Microcredit proceeds are not directed to the suppliers.  Instead, the financial services are directed to the poorest of the poor in the communities where these suppliers live and work.  As of October 2008, WPF had USD 7.9 million in authorized grants to its microfinance partners.  Whole Foods Market’s 2007 net income was USD 182.7 million.  Whole Planet Foundation follows a multi-stakeholder model in its outreach, operations and financing. Whole Planet Foundation partners include microfinance institutions, leveraging partners and Whole Foods Market team members, customers and vendors.  Click here for past MicroCapital stories on Whole Planet Foundation.

By Iyanna Holmes, Research Assistant

Additonal Resources:

Jamii Bora Trust 

Unitus, Inc. 

Whole Planet Foundation 

 

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  1. […] MicroCapital.org story, December 9, 2008, “MICROCAPITAL STORY: Unitus, Inc. and Whole Planet Foundation Announce Partnership with Jamii Bora Trust, a Kenyan MFI,” https://www.microcapital.org/microcapital-story-unitus-inc-and-whole-planet-foundation-announce-partn… […]

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