- The loans are initially capped at Sh50,000 per group but upon successful repayment, a group can re-apply and get up to Sh500,000.
- The interest rate for women and youth segments is five per cent annually while the PLWDs will be charged three per cent.
Image: MAURICE ALAL
Kisumu Governor Anyang Nyong’o has disbursed Sh24.3 million in loans to 659 groups.
Nyong’o said the beneficiaries of the County Revolving Fund include 39 people with disability groups, 328 youth groups and 292 women's groups.
The fund targets to empower groups from segments of society that have not been given much priority in the distribution of the national cake.
Nyong’o said the loan is a product of the county youth, women and persons with disabilities enterprise development fund derived from the Kisumu County Youth, Women and Persons with Disabilities Act, 2015.
“It is a continuous revolving fund meant to empower our people and enable them to venture into income-generating activities. My cabinet passed this Act to help our women, youth and PLWDs who have been facing obstacles in accessing affordable loans,” he said.
The loans are initially capped at Sh50,000 per group but upon successful repayment, a group can re-apply and get up to Sh500,000.
“I, therefore, urge groups to repay faster to enable them to qualify for higher amounts. The loans will be driven by very flexible terms,” Nyong’o said.
The interest rate for women and youth segments is five per cent annually while the PLWDs will be charged three per cent.
Nyong’o revealed that there is a grace period of two months and the loans are repayable within one year.
The fund is an extension of small loans (micro-loans) to borrowers who typically lack collateral, steady employment and verifiable credit history.
“It is designed not only to support entrepreneurship and alleviate poverty but also to empower the neglected groups of society,” the governor said.
Beneficiaries from the seven subcounties have been trained on improved management of the disbursed fund at group levels, positive attitude change on revolving funds, improved adherence to positive financial culture and enhanced socio-economic well-being at family and county levels.
Besides the loans, Nyong’o said his government is keen on supporting vulnerable groups to enhance their entrepreneurship skills as a strategy for poverty reduction and the realisation of Sustainable Development Goals (SDGG 5) on economic and gender equality.
He noted that entrepreneurship is one of the main pathways for economic empowerment because it has multiplier effects on family well-being, poverty reduction and sustainable economic growth.
“My government is blazing the trail in addressing issues affecting vulnerable groups, specifically the PLWDs,” he added.
Nyong’o said Kisumu became one of the first counties to employ sign language interpreters in line with the Constitution of Kenya Articles 2, 35 and 54 and the United Nations Convention on the Rights of Persons with Disabilities.
The seven sign language interpreters have been deployed in the key departments including Jaramogi Oginga Odinga Teaching and Referral hospital and Kisumu County Referral Hospital.
“The officers have been doing commendable work in assisting those with hearing impairment,” Nyong’o said.
Currently, the county is in the final stages of forming the county departmental disability mainstreaming committees to help address PLWDs issues.
“We have worked on relevant policies that have seen PLWDs play a major role in our government,” Nyong’o added.
He said they are working with other partners on the county gender mainstreaming policy, which will provide broad objectives and policy commitments towards the achievement of gender equality and women empowerment.
Nyong'o appealed to women to remain resilient and focused. “You must be ready to play your role in government, businesses and other leadership roles in society,” he said.
Women must be ready to break the barriers, he said, noting that his administration has appointed women to some key positions.
“We have women in the cabinet. We have women as chief officers and directors. We will however soon increase these numbers,” he noted.
Nyong’o said Covid-19 pandemic has grossly interfered with the economic activities of the people, especially women, youth and PLWDs.
He stated that his government has prepared a Covid-19 recovery strategy paper, which will guide the county to cushion residents against the ravages of this pandemic.
Edited by Henry Makori