Kiambu youths, women get Sh30mn in loans

November 17, 2015 1:50 pm
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Kabogo pointed out that beneficiaries of the first batch were already repaying their loans with the money from the successful businesses they run. The loan has a grace period of four months/CFM
Kabogo pointed out that beneficiaries of the first batch were already repaying their loans with the money from the successful businesses they run. The loan has a grace period of four months/CFM
KIAMBU, Kenya, Nov 16 – Kiambu Governor William Kabogo has disbursed Sh30 million in cheques to groups of youths, women and people living with disability.

The disbursement of the second batch of the monies popularly known as Biashara Fund comes after months of vetting of over 30,000 applicants drawn from across the county.

Kabogo pointed out that beneficiaries of the first batch were already repaying their loans with the money from the successful businesses they run. The loan has a grace period of four months.

“I will go home a happy man today since some youths have already begun repaying the loan we gave a while ago. From agribusiness to running hotels and tours-travels businesses, this fund is transforming the youth of Kiambu,” said Kabogo.

He advised that white collar jobs are not enough for everyone and that such initiatives would help reduce poverty.

“We all cannot fit in employment where one gets a salary at the end of the month, but I’m sure those who venture into good business will not want to be employed,” he added.

Kiambu County Executive for Youth Affairs and Sport Machel Waikenda applauded those who are already repaying the first loan.

“We almost have 100 percent repayment to the people who got the money first, this is very encouraging. We appeal to those who got the money today to do likewise,” said Waikenda.

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