Kisumu County Governor Prof. Anyang’ Nyong’o will launch the disbursement of Ksh. 24 million revolving funds to benefit Small and Medium Enterprises (SMEs) and cushion them against effects of COVID-19.
Registered Women, Youth and People with Disabilities groups will be eligible for the microloans.
The county Department of Finance has projected to award over 70 small businesses owned by 13 registered groups in the area to boost their development projects.
Before allotment of the funds in July, the beneficiaries who are drawn from vulnerable communities will undergo 7-day training on financial management to ensure the growth and sustainability of the fund.
The potential beneficiaries are encouraged to take advantage of the revolving funds as their terms are friendlier.
The kitty was established to offer financial relief for the communities with limited or no access to loans from the formal financial institutions.
One of the beneficiaries, Mrs. Esther Akeyo of Got Akello Women group in Muhoroni sub-county, welcomed the move by the county government to revive the Women, Youth and People with disability revolving fund.
She added that the fund would boost their development projects and eventually improve their livelihood.
The revolving fund was established under the public management Act of the county government of Kisumu and regulated by the county Department of Finance and Economic Planning.
Other partners in the program are the department of Women Youth and social services, Plan International, KEFEADO and Lakespan holdings limited.
