"FUND TO CARE FOR THE SEA"
MKUBA objective is to provide incentives for the community’s own marine resources plan
MKUBA means “Mfuko wa Kutunza Bahari” or “Fund to care for the sea”.
MKUBA is a performance-based grant. A grant is accompanied by small business training and mentorship to help the community to set up and run a revolving loan fund with environmental actions included in the loan terms.
The key to MKUBA.
Members are required to engage in environmental restoration or conservation activities supporting the village by-laws and ecosystem plan in order to access credit. The fund provides much needed access to credit for small scale producers who cannot access formal financial services, due to their small credit needs, high margins for banks and MFIs to serve them as well as being viewed as risky because of their volatile income streams.
Figures updated: April 2023
MKUBA Blue Finance Model
Mwambao, in conjunction with Greenfi Systems, devised this eco-credit concept for coastal communities in 2018. Fauna & Flora International provided initial support. This initiative has created widespread interest with fishers and partners alike. The key point of eco-credit is that ecological or environmental actions are included in loan terms. A borrower of credit has to pay back the money and also do an ecological action (termed eco-actions in the eco-credit model).
A group within a defined community is given a grant, and the group owns those funds as a community asset which they loan to each other. The group manages the funds as a revolving loan fund and supervises the eco-action performance. Fulfilling the eco-actions is called ‘eco-compliance’.
We provide training on establishing and running small businesses alongside disbursement of the fund. Mwambao has found MKUBA helps to familiarise community members with the adopted resource management plan and helps build household level financial resources, especially where members are women. Mwambao is seen to care both about resource wellbeing but also about people’s wellbeing – that is appreciated.
WHEREVER POSSIBLE, CONSERVATION MUST BRING BENEFITS & INCENTIVES TO THOSE WHO
SUSTAINABLY MANAGE RESOURCES
There are eight core approaches underpinning our work. Click on one below to read more.