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GARISSA REVOLVING FUND

Interest-free loans for vulnerable groups

Youth, women and persons living with disability will be given loans from the Revolving Fund to start business

In Summary

• Project to fund 200 women's businesses, 150 youth businesses and 40 run by people living with disability every year. 

• Garissa is the third countyand the first in northern Kenya to launch the special fund.

Garissa Governor Ali Korane with the dummy cheque for Sh150 million during the launch of the revolving fund on Wednesday.
VULNERABLE GROUPS: Garissa Governor Ali Korane with the dummy cheque for Sh150 million during the launch of the revolving fund on Wednesday.
Image: STEPHEN ASTARIKO

Garissa Governor Ali Korane has urged women and the youth to apply for the new, no-interest Revolving Fund loans to start businesses.

The fund will benefit youth, women and persons living with disability who will be able to generate self-employment. 

Speaking on Thursday during the launch of the Garissa County Revolving Fund, Korane said women and youth are more than 70 per cent of the county’s population. But they face "enormous challenges in pursuit of social-economic empowerment".

“It's my administration's dream to economically empower a significant segment of the population marginalised for decades despite their numerical strength,” Korane said at a hotel.

He said the unexploited potential is hue among the youth, women and people living with disability. The fund will provide opportunities to exploit their potential for prosperity, he said.

“We want to reduce poverty and promote entrepreneurship,” Korane said. 

Garissa becomes the third county nationwide and the first in northern Kenya to launch the revolving fund for interest-free loans.

He spoke of discriminatory policies have "greatly reduced their chances to achieve their dreams by not offering them affordable interest-free credit".

We want to provide wings, legs and forearms to our people to realise their dreams. Let us walk us this journey together.
Trade executive Adow Jubat

The governor said prospects were very good the fund could be doubled if they repaid initial amount they borrowed.

Korane said his administration will continue to invest and promote the milestone projects that is intended to help 200 women-owned businesses, 150 youth-owned business and 40 businesses owned by persons living with disability every year.

He hinted at the possibility of coming up with a county-owned cooperative and savings bank.

He urged the funds committee from every subcounty to exercise fairness while choosing the beneficiaries.

Trade executive Adow Jubat urged those who will be given the money to repay in time so others can borrow.

“We want to provide wings, legs and forearms to our people to realise their potential dreams. Let us walk us this journey together,” he said.

(Edited by R.Wamochie)