, 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.