Women, youth still waiting for Sh6 billion fund for business

By Lonah Kibet and Caroline Rwenji

KENYA: President Uhuru Kenyatta pledged that within 100 days women and the youth in the grass roots would enjoy interest-free loans.

The promise is still in the pipeline but reliable sources indicate plans are underway to finalise the program ready for implementation next month.

The Government had set aside the Sh6 billion for use in the event of an election run-off following the March 4 elections.

President Uhuru Kenyatta during his inauguration diverted the money to support youth and women enterprises in efforts to help develop their economic lives. “The youth and women should use the fund’s low interest loans,” said Uhuru at a past event.

However, one of the biggest challenges even after the program is rolled out will be to inform the public who have any misconception.

Homa Bay women representative Gladys Wanga noted most residents of her county assume the loans would not be repaid.

Cash through Saccos

Her sentiments were echoed by her Nyeri counterpart Ms Priscilla Nyokabi who emphasised citizens need to be informed that the funds issued are a loan that is payable.

About 78 per cent of groups in Homa Bay have registered their groups. The women registered in groups or chamas will receive the funding through banks while the youth will access the cash through Saccos.

The Sh6 billion will be managed by the Devolution and National Planning Ministry through a soon to be launched Uwezo Fund.

“The fund will be disbursed directly to beneficiaries through the Constituency Development Fund framework, under the administration of committees,” said Devolution and Planning Secretary Anne Waiguru in a statement early this week.