What is Akaboxi
Akaboxi is Bantu speaking word referring to a box. A box is a saving group of smallholder farmers in communities that do savings and borrowing together. They gather/ meet weekly and each saves on average 1.5 USD.
Therefore a box or group saves 1.6 (weekly savings)*30 the number of people in each group (average number of people in a box)*4 (4 times a week) = 192 USD per month. We are handling a sub-county with 440 groups/ boxes (13,200 smallholder farmers)=440*30*1.6*4*12=1,013,760USD THIS IS UNBANKED MONEY THAT IS KEPT IN BOXES IN THEIR LEADERS HOMES by end of the year before it is shared amongst themselves.