Date: 2024-09-27 Page is: DBtxt003.php txt00004072
Alternative Currency
Bangla Pesa
Bangla Pesa - Complementary Currency Program in Kenya
Burgess COMMENTARY
Peter Burgess
Bangla Pesa - Complementary Currency Program
Bangla News.
A demo Tano (5) Bangla Voucher See more art below.
Bangla Pesa is a program to strengthen and stabilize over 200 businesses in the informal settlement of Bangladesh, Kenya. The Bangla is a complementary currency being used as a mutual-credit-clearing system for small scale business members of the Bangla Business Network (BBN). It helps stabilize the community against monetary supply volatility by allowing Network members to trade with each other without the national currency. It also gives the community a way to target local business incubation and social service projects. Currently Koru is working with the BBN on planning and baseline data gathering and will launch the Bangla currency in March 2013. The initial launch will be using a paper-voucher and in late 2013 we plan to add a mobile phone exchangeable credit.
Credit Clearing System
Each business registered in the network is given a credit line among the other businesses. This credit line is realized by being issued 400 Banglas (Vouchers), of which 200 are used as a membership fee and go toward community programs. By using the Banglas to buy goods and services at fellow BBN member businesses, they also accept to sell their own goods and services for Banglas.
Bangla Business Network (BBN) Organization
The BBN has a board of directors consisting of representatives from: youths, elders, women business owners, men business owners and community health workers. These directors have the task of accounting, administration, registration, Networking, care taking and organizing community service work.
Bangla on Mobile Phones
The BBN is eager to start trading with Banglas via mobile phones in a similar fashion to M-PESA.
Bangla Art
Bangla Vouchers are in four denominations. See their backs and fronts here.
Our Artist Karol Opondo.
The Bangla artwork was done by Karol Opondo. Born in 1979, Karol Opondo is the Head of Art Department at The Mombasa Academy, Kenya. Karol finds that the communities around her are her greatest inspiration.
Bangla News
Details on our last community meeting can be found here.
The BBN will be hosting a launch in late March.
More Information
- About Complementary Currencies.
- Bangla Pesa - Credit-Clearing System.
- Bangla Business Network Organization.
- Bangla - On Mobile Phones.
- Bangla Art Work.
