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ACK Diocese of Kitale
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ACK Diocese of Kitale
The Yireh Financial Services (YFS) is a subsidiary company of Yireh Foundation Company Limited (YFCL) owned and operated by the Anglican Diocese of Kitale through appointed Trustees and the Management Board. The YFS is headed by a manager who shall be an ex-official and secretary to the Management Board.
The Yireh Financial Services (YFS) is a subsidiary company of Yireh Foundation Company Limited (YFCL) owned and operated by the Anglican Diocese of Kitale through appointed Trustees and the Management Board. The YFS is headed by a manager who shall be an ex-official and secretary to the Management Board.
YFS office was opened for business on 1st August 2020, with a mandate to create wealth and reduce poverty through micro-enterprise programs for its community members and generate income to support the mission activities of the Anglican Diocese of Kitale.
Integrity
Biblical stewardship
Transparency and accountability
Economic empowerment
Professionalism
Inclusivity
Create wealth and reduce poverty through microenterprise programs
Generate income to support mission activities of the Anglican Diocese of Kitale
All land, buildings, and investments vested in "ACK YIREH FINANCIAL SERVICES"
Ledger fees: Ksh. 50 per month per member (Ksh. 20 to Trust Group admin costs)
Loan interest rate: 10% per cycle recovered on disbursement
Commitment fee: 2% for every loan disbursed
Maximum loan: 15% of Trust Group's total share capital and reserves
All funds banked in officially designated accounts
Dividend on shares paid to members
25% credited to Reserve Fund
Remaining 75% distributed equally (15% each) to:
- Trust Groups (proportional to invested capital)
- Parishes (proportional to capital invested by their Trust Groups)
- Diocesan Office
- Yireh Financial Services
- Yireh Foundation Company Limited
**August 1, 2020:** YFS office opened for business
**September 2021:** First anniversary celebrated with members
**October 2021:** First loan disbursement to members
**April 2022:** Second loan disbursement
Partnership with Just Earth FFS for farm inputs loans
Automatic YFS membership for all FFS registered farmers
Insufficient workforce
Insufficient budget for the department
Need for more training activities and sensitization of clergy and lay leadership
Aggressive marketing and continued sensitization through parish priests
Recruitment of more Christians in all parishes within the Diocese of Kitale
Provision of affordable and easily accessible financial services
Instilling a culture of saving among members and community
Training Christians on financial management skills and entrepreneurship
Availing resources from profits for the mission work of ACK Diocese of Kitale
Trust Group membership with access to credit and benefits
Individual membership for investing with earned bonus/interest
Parish Coordinating Teams for oversight and linkage
Annual General Meetings (AGM) for governance
Partnership with Just Earth for Farmers Field Schools farm inputs loans
Get in touch with this partner
Coordinator
Ms. Rosemary Odima
YFS Manager
yfs@ackkitalediocese.org
Phone
+254722766634
Partnership Since
2020