REPAYMENT RATE IS 54%

Youth borrow empowerment cash but fail to repay – CS

The national government has disbursed more than 34 billion Uwezo Fund, Youth Enterprise Development Fund, Women Enterprise Funds and the National Government Affirmative Action Fund

In Summary

• Kobia despite outcry from Kenyan youths to get decent jobs, they have failed to apply for funds and those who apply never refund the money

• The Youth Enterprise Development Fund has disbursed Sh12.8 billion nationally

Many youths do not refund government empowerment money despite their demands for jobs, Youth and Public Service CS Margaret Kobia has said.

Others, she said, have failed to apply for available funds and those who apply never refund the money loaned to them. Failing to repay the money has hurt the funding programmes.

The programmes include the Uwezo Fund, Youth Enterprise Development Fund, Women Enterprise Funds and the National Government Affirmative Action Fund, among others.

Kobia on Saturday said the Youth Enterprise Development Fund has disbursed Sh12.8 billion nationally. Of the amount, Sh185 million went to Meru county. 

"Youth Enterprise Funds targets the youth. The repayment rate for this group is about 54 per cent. This rate is considerably low and I urge the beneficiaries to repay the loans by up to 90 per cent," she said. 

Kobia said her ministry seeks to promote the welfare of the disadvantaged and marginalise, including women, youth and people living with disability.

"Women Enterprise Fund targets women through the provision of affordable credit and has disbursed Sh16 billion nationally. Meru county has received Sh602 million. The money has made a major impact. The repayment rate by women's groups in Meru is 100 per cent," she said. 

She said the Affirmative Action Funds has also transformed the lives of many women and youth in Kenya. 

On Uwezo Fund that targets the marginalised and less privileged, she said her ministry has disbursed Sh5.9 billion nationally. Of the amount, Meru county has received Sh185 million.

 

 

 

 

 

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