South Africa
Brand (Grassroots Economics)
Region: Western Cape, South Africa
Currency Type: physical notes, backed by national currency, exchangeable for national currency
First Issued: May 2015
Description and Background: The Berg Rand or BRAND, meaning ‘Fire’ Money in Afrikaans, was started by the FlyAfrica Team. The BRAND is meant to flow throughout the community when the National Currency (Rand) is scarce. Beyond the empowerment of the small businesses in the region, the launch of the BRAND was special in Africa as being the first to be met with support from both a National Treasury and local municipality.
Circulation and Participation: unknown
Founder: FlowAfrica Team
Contact: info@grassrootseconomics.org
Website: http://grassrootseconomics.org/
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K’mali
Region: Kokstad, South Africa
Currency Type: locally-issued convertible paper currency
First Issued: 2015
Description and Background: K’Mali is an innovative complementary currency used in Kokstad by the K’Mali Exchange Network (KEN). It is a medium of exchange to function alongside the national currency (Rand) with the aim to improve economic trade and help support local well being and sustainable self-determination in the community of Kokstad.
Circulation and Participation: Over 115 participating local Kokstad businesses
Founders: Unknown
Contact: kmali@flowafrica.org
Website: http://kmali.co.za/
Kenya
Sarafu-Credit (multiple programs)
Region: Kenya
Currency Type: locally-issued convertible paper currencies, mutual credit
First Issued: 2010
Description and Background: Sarafu is a community currency backed by a network of vendors, craftspeople, and school. Sarafu-Credit is used by five different communities, all located in informal settlements or slum areas. The community currency system takes the form of paper notes, circulating in complementarity with the national currency, the Kenyan Shilling.
Circulation and Participation: unknown
Founder: Will Ruddick and Grassroots Economics
Contact: info@grassroots.org
Website: http://grassrootseconomics.org/
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Bangla-Pesa
Region: Kenya
Currency Type: locally-issued convertible paper currency
First Issued: 2013
Description and Background: Bangla-Pesa is only accepted within Bangadesh, a slum outside of Mombasa. The Bangla-Pesa is accepted for many transactions and thus, represents a currency acting as a means of exchange in the slum. Participating businesses receive an initial credit of 400 Bangla-Pesa.
Circulation and Participation: 218 participating businesses and 87,200 Kenyan shillings worth of vouchers in circulation
Founder: Will Ruddick and Grassroots Economics
Contact: info@grassroots.org
Website: http://grassrootseconomics.org/
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Gatina-Pesa
Region: Kawangware, Nairobi, Kenya
Currency Type: locally-issued convertible paper currency
First Issued: 2014
Description and Background: The Gatina-Pesa was the first program to replicate the Bangla-Pesa model. The Honorable Simba Arati, the area Minister of Parliament, officially cut the ribbon and launched the program.
Circulation and Participation: The network is made up of 258 businesses and a strong wholesale shop that backs the system.
Founder: Will Ruddick and Grassroots Economics
Contact: info@grassroots.org
Website: http://grassrootseconomics.org/
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Ng’ombeni-Pesa, Kangemi-Pesa, Lindi-Pesa
Region: Mombasa Area, Kenya
Currency Type: locally-issued convertible paper currency
First Issued: 2015
Description and Background: These currencies follow the Bengla-Pesa model.
Circulation and Participation: Many people from this community use this currency and host a market day exclusively for it.
Founder: Will Ruddick and Grassroots Economics
Contact: info@grassroots.org
Website: http://grassrootseconomics.org/