Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The County Executive Committee Member in Charge of Youth and Sports Machel Waikenda, who come up with the idea, speaking during the same event noted the kitty will employ other people at the grassroots level/CFM BUSINESS

Kenya

Kabogo disburses funds to 200 Kiambu groups

The County Executive Committee Member in Charge of Youth and Sports Machel Waikenda, who come up with the idea, speaking during the same event noted the kitty will employ other people at the grassroots level/CFM BUSINESS

The County Executive Committee Member in Charge of Youth and Sports Machel Waikenda, who come up with the idea, speaking during the same event noted the kitty will employ other people at the grassroots level/CFM BUSINESS

KIAMBU, Kenya, Jul 2 – The Kiambu County Government has disbursed the first batch of funds to some 200 youth groups, women and persons living with disability.

Kiambu Governor William Kabogo said the kitty is meant to make sure that beneficiaries will now start small businesses which will empower them economically.

He was speaking Thursday at Kiambu County Headquarters where he challenged those who benefited to spend the funds wisely adding that fund is refundable.

The County Executive Committee Member in Charge of Youth and Sports Machel Waikenda, who come up with the idea, speaking during the same event noted the kitty will employ other people at the grassroots level.

Waikenda said that the money does not attract any interest apart from a 5 percent administrative fee spread out during the life of the loan adding that there is also 0.05 percent in insurance to cater in case of life or permanent disability.

He assured those who have applied for the fund not to give up since this is the first batch since within three weeks other groups will also be considered.

Those who benefited got between Sh200,000 and Sh700,000 which is repayable within 36 months upon which beneficiaries can apply for more funds.

Waikenda said that they vetted all the applicants and also went around the 60 wards in Kiambu County for capacity building which will be a continuous process in order for the groups to spend the money wisely.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...