FINANCING SMEs

Governor Abdi directs trade department to re-activate revolving fund

More Saccos have been registered in the county in the last two years

In Summary

• Abdi said recovering the loans from beneficiaries had proven to the biggest challenge in keeping the fun running.

•The last two years has seen the County through the Department of Trade and Co-operatives disburse over Sh300 million as revolving fund.

Wajir governor Mohamed Abdi Speaking in Wajir town on Monday during the handing over of business start-up equipment and tools to cooperative societies comprising of youth and women groups from the six sub counties.
DIRECTIVE Wajir governor Mohamed Abdi Speaking in Wajir town on Monday during the handing over of business start-up equipment and tools to cooperative societies comprising of youth and women groups from the six sub counties.
Image: STEPHEN ASTARIKO

Wajir governor Mohamed Abdi has directed the department of trade to re-activate the revolving fund which he said had assisted many business start-ups. 

Speaking in Wajir during the handing over of equipment and tools to cooperative societies Abdi however said recovering the loans from beneficiaries posed the biggest challenge in keeping the fund running.

In the the last two years , the County through the Department of Trade and Co-operatives has disburse more than Sh300 million from te fund fund to assist SACCOs and other small scale traders.
 
 

The governor said while a good number of traders have repaid the loans as required, some have defaulted making it difficult for the fund to keep revolving. 

“We should cultivate a culture of collaboration and mutual trust so as to inspire more of the small scale traders to enlist for these funds,” he said.

He said local should consider investing in light industries.

The county trade executive Ismail Sheikh urged the youth, women and persons living with disability to venture into business through special loans and tenders set aside for them.

He said in the last two years, the number of registered Saccos in Wajir County has grown from 30 to 195.

The governor donated carwash and sewing machines, milk pasteurizers and dispensers, tents, plastic chairs, public address systems, generators and water tanks.