The Government through the women enterprise fund has disbursed a total of 5.75 million shillings to 18 women groups in Kiambu County from July this year todate.
The Kiambu County Women Enterprise Officer Mr.Bernard Guama while talking to KNA from his office yesterday said the groups that had benefited from the fund were in the process of being issued with their respective cheques.
Since inception in 2007/2008 FY 700 Groups have benefitted at least 80,000 members through the fund which became vibrant in 2011 noted the officer.
The officer advised the groups to manage their funds prudently so that they are able to repay the loans with ease.” “When you finish repaying your loan, you will qualify to apply for a bigger loan and this will enable you to expand your economic activities accordingly” said Mr.Guama.
The WEF Officer advised upcoming groups to target to register at least 15 members saying such a number was manageable and it was easy for the officials to monitor their social-economic activities without losing track of their contributions and participation.
He clarified that the members who qualified for registration were 10 and above which comprised mainly women. Men could also be members at only 30 per cent but cannot be signatories to their accounts since the fund was meant to empower women in all skills including managerial.
He lauded the women groups in Kiambu County saying their commitment was seen from their payment style and pattern. The rate has been 98 per cent but was slightly affected by the coronavirus pandemic in Kenya when many activities were affected. As at now, the rate reduced to 96 per cent, he stated.
Mr.Guama further revealed that the grace period for the borrowers was now 3 months owing to the stress that business enterprises suffered from the corona pandemic. Earlier they were given one month.
New groups were entitled to 100,000 and those who paid it successfully qualified to benefit from 200,000 shillings and then the third was 350,000 shillings. The highest amount of money that groups could be given is 500,000 shillings
These loans are expected to be repaid within a period of one year apart from the highest which should be paid in one year and 3 months, he said.
Following a ceremony presided by Chief Administrative Secretary in the ministry of public service, youth and gender Ms Racheal Shebesh early this week at the offices of the deputy county commissioner in Githunguri, the women groups have been visiting the office to collect their cheques so that they can revive their livelihoods.
Source: Kenya News Agency