Government launches product for Widows to access finances

Government launches product for Widows to access finances

The government has launched “Thamini Loan” through the Women Enterprise Fund (WEF) targeting the widows in a bid to accelerate Women’s Entrepreneurship.

The platform enables widows across the country to grow their businesses by accessing finances through ‘Thamini loan’ product launched on Wednesday.

Speaking in Nairobi during the launch of Strategic Plan, 2021-2024, Cabinet Secretary Public Service and Gender Cabinet Secretary Prof  Margaret Kobia said the new product aims at empowering women economically to improve the quality of life in society.

She termed widows as a vulnerable segment of women that needs support in accessing finances to grow their businesses.

“The programme aims to increase women entrepreneurs’ access to capital through innovative financing mechanisms (individual loans), increase women entrepreneurs’ use of business development services and technological advancements to support the vulnerable women in the society like the widows,” said Kobia.

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The CS emphasised on the need to have committed leaders who will be key actors to lead the people in taking actions and influence behavioral change to achieve gender equality.

“I wish to reiterate my Ministry’s commitment to support WEF in all ways to ensure successful implementation of the programmes,” added Kobia.

The CS called upon the partners to collaborate with WEF to demand accountability report on progress on the widow’s product ‘Thamini Loan’.

The Chairperson, Parliamentary Committee on Labour & Social Welfare Josphat Kabinga, reiterated  the Members of Parliaments’ effort to support WEF.

Thamini financial product has special features and it is interest-free, has very flexible time to pay loan between 15-30 months, thus giving one time and opportunity to pay and no loan administration fee is charged.

The WEF Chief Executive Charles Mwirigi welcomed the initiative and thanked the government for its continued support to empower the most vulnerable group of people in the country.

The journey towards women economic empowerment is traced through different vehicles; starting from grass root organisations such as Mabati Women Group, Merry-go-rounds, Chamas, Saccos, Joyful Women Organisation (JOYWO) and Microfinance Institutions (MFIs).

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