Eco-Pesa
Eco-Pesa is the name of a Kenyan local currency, used to reduce poverty and support environmental conservation in a slums areas inside the Kongowea Location, Mombasa District, Kenya. Pesa is the Kiswahili word for money.
Residents can obtain Eco-Pesa through being part of a business network or participating in community events (such as trash collection days)[1] or through local sales and services.[2]
Eco-Pesa or Eco-Pesa Vouchers were introduced by William Ruddick, May 2010 to three slum villages (or informal settlements) inside the Kongowea Location, namely: Kisimu Ndogo, Shauri Yako and Mnazi Mmoja.
Once registered, local businesses become part of an Eco-Business Network. Once in this network, businesses are allowed to exchange their Eco-Pesa Voucher for the national currency Kenyan shillings. They also receive business and environmental training.
Eco-Businesses include but are not limited to general shops, pharmacies, health clinics, child care, haircuts, charcoal kiosks, produce sellers, poultry sellers, transportation providers, water sellers, and distributors.
The Eco-Pesa Vouchers themselves are security printed with the following features: Visicoin printing, UV ink, security designed backgrounds and watermarked paper with UV fibers, as well as serial numbering.[3]
The Eco-Pesa vouchers are available in 5/ep, 10/ep, and 20/ep denominations and depict local landmarks such as the Kengelele Bell, Nyali Beach and the Nayli Bridge.[4]
The founders of the Eco-Pesa program have also developed the Bangla-Pesa in the informal settlement of Bangladesh, Kenya and are working to employ mobile phone or SMS systems to trade local credits. The Bangla-Pesa uses a [mutual credit] model where there is no longer need for national currency or donor funds to keep it running.[5]