Mombasa Governor Ali Hassan Joho (ODM) has re-established Bangla-Pesa programme in the Bangladeshi slums of Jomvu area which the national government prohibited in June with allegations that the group was clandestinely engaging in illegal monetary activities.
Bangla pesa became a ‘media sensation’ that eventually led to the arrest of the foundersÂ Alfred Osigo, Paul Mwania, Caroline Dama, Rose Auma and Emma Odhiambo who were subsequently charged in a court of law alongside their American co-sponsor William Ruddick.
However, several respectable quarters defended Â BanglaÂ with investment magnet Jimnah Mbaru supporting the idea of complimentary currencies.
â€œBangla-Pesa is just a promissory note liquiditable at a later date,” Mbaru had said then.
While officially launching the programme, Governor Joho Â said theÂ BanglaÂ system provides a means of payment that compliments official money.
“The Bangla-Pesa is a unit of credit within this mutual-credit-clearing system which provides a means of payment that is complementary to official money,” said Joho.
“Bangla-Pesa is a non-profit program to strengthen and stabilize the economy of Bangladesh village in Jomvu Sub County. The program has more than 200 small scale businesses forming the Bangladesh Business Network (BBN) through which its members can utilize a complementary currency to mediate trades,” added the Governor.
By Dikembe Disembe