OUR OBJECTIVE
African Communities are struggling to promote economic development due to three main reasons:
- Poor wealth security measures as a result of the devastating effects on economic development coupled with every recuring crises
- Absence of quality jobs and consequently low standards of living
- Poor or no existing tax base to provide community services to the public.
- The MBAM project intends to address these issues
- To understand the project objectives, we need to understand what is meant by Currency as compared to Money. Currency is defined as an agreement like a contract, a business deal – to use something as a medium of exchange while Money is defined as a legal tender – the acceptable payment of taxes and debts.
- Therefore, local currencies are contracts to keep and build wealth within a local community. These currencies are not designed to replace the legal tender but rather to build and sustain wealth within a community. Community currencies create real wealth by bringing together the unmet needs of the community and there are thousands of such proven models worldwide existing in Japan, Switzerland, Netherlands and in some East African countries.
- MBAM intends to play a significant role in empowering its members by addressing the issues of economic growth and wealth preservation within communities. This is intended to ease the flow of money between community members, ease transaction of goods, products and services, facilitate remittances, fund local projects and provide assistance to the vulnerable members within its community.
