Marsabit Launches Sh30m Enterprise Fund for Youth and Women

Courtesy of The Ministry of Trade, Industry and Cooperatives

Marsabit has launched a Sh30 million Enterprise Fund aimed at boosting micro and small businesses among youths and women.

The subsidised fund will be disbursed annually to sustain operations of small and medium-sized enterprises.

“We intend to create an entrepreneurial culture within the county by funding innovative enterprises,” said county boss Ukur Yatani on Tuesday during the swearing-in of the committee that will be in charge of the fund at the county headquarters.

marsabit

Mr Yatani said he is optimistic that the new committee will speed up the disbursement of the cash.

The governor said the subsidised loan tenure will run for a maximum of two years.

The county chief officer for Trade, Industry and Enterprise Development, James Chiwe, said they will follow the criteria set by the Commission for Revenue Allocation to disburse funds to the four sub counties.

Factors such as population, land area, poverty level, equal share and level of development will be put into consideration, he said.

Mr Chiwe said applications would be done through ward administrator’s offices who will appraise the forms before they are forwarded to the County Enterprise Fund Credit Committee for approval or rejection.

Priority will be given to women and youths who own businesses with good track records and legitimate operating licences, the official said.

Livestock traders and Jua Kali artisans also stand to benefit.

Individual business owners are expected to receive between Sh100,000 and Sh250,000 while livestock traders will get up to Sh300,000.

Group business loans will range from Sh150,000 to Sh450,000 and group livestock trade loan will range between Sh250,000 and Sh500,000.

“The fund will in a big way help local businesses overcome difficulties in accessing finances,” said Mr Chiwe.

Disclaimer: Youth County Projects Kenya spreads opportunities for your convenience and ease based on available information, and thus, does not take any responsibility of unintended alternative or inaccurate information. As this is not the official page, we recommend you to visit the official website of opportunity provider for complete information. For organizations, this opportunity is shared with sole purpose of promoting “Access to Information” for all and should not be associated with any other purposes.

Advertisements

Author: youthcountyprojects

This platform seeks to fill the knowledge and awareness gap regarding youth projects being implemented in the 47 counties in Kenya. It also highlights projects focusing on youth being implemented in 47 counties in Kenya by the national government,county governments,donor agencies,civil society organisations (CSOs),Non Governmental Organisations (NGOs),Donor Agencies,Community Based Organisations (CBOs),private sector and individuals and their impact to the communities. The projects lie within the social pillar,economic pillar and political pillar as enshrined in Vision 2030. Email: youthprojectskenya@gmail.com Facebook Page: Youth Projects Kenya Twitter : @YouthProjects

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s