Irene Jepkoech Rotich, Retailer
The introduction of the sQuid Microfinance intervention in Chepkurmum Primary School in Uasin Gishu County, Kenya has seen the livelihood of benefiting parents improve immensely. Despite the financial challenges caused due to the Covid-19 pandemic, Irene and other parents in this school are thankful that sQuid Microfinance has shielded them from a would-be, more adverse effect on their livelihoods and their businesses if they had not received loans. They strongly believe that the introduction of loans to parents in the school will not only bring economic empowerment to them but also, curb the financial barriers to education - especially to the girls in the area who often are the main victims of absenteeism due to lack of basic needs that finally result to school drop-out, and early marriages.
Irene Jepkoech Rotich, a member of Tujiunge group in Chepkurmum Primary School joined the sQuid Microfinance in 2019 after sQuid officers met her during a parents’ meeting in the school. She joined a group of 9 other parents where they received financial literacy training from sQuid staff.
At the time of joining, she did not keep any business records and was only interested in sales. She has since transformed and now has a more serious outlook on her business, with proper bookkeeping records and she has also diversified her income sources so as to cushion her during low seasons.
Irene took her first loan of Kes30,000 in December 2019 which was to be repaid in 12 months. She however repaid this earlier, thanks to her improved business skills. The purpose of the loan was to: add stock to her retail shop, and to buy chicken feeds, fertilizer and medicine.
Irene has two daughters named Linet and Mercy in grade 3 and 6 respectively at an iMlango school. Their attendance has improved a lot and their mother is certain that upon completion of primary education, she will be able to afford a decent secondary school for them:
”I look forward to seeing my children perform well and transition from primary to a good secondary school since their attendance and performance has improved compared to the past. I believe with the rate at which my business is doing, I will have made enough savings for my children to enable them to study without any financial difficulty on my end.”
Currently, Irene has a second loan of Kes60,000 that she used to stock her retail shop. She is repaying this loan well as her businesses can comfortably meet the monthly installment.
“My Business has really improved, and I am now in a position to make my monthly repayments without struggling. I am so glad to be part of this Journey with sQuid and I look forward to expanding my business.”