Organised business groups in Kisii are set to benefit from a Sh10million fund from the County Trade Credit Scheme.
Beneficiaries, who will include youth and women groups across the 45 wards, will access the funding in April this year after undergoing a vetting process.
Speaking during a training programme for board members of the scheme, the County Executive Committee Member (CEC) in charge of Trade and Industry, Mrs Edna Kangwana, said registered groups across the county will benefit from the scheme.
The two-day training, which was officially opened by the county secretary, Mr Patrick Lumumba, is targeting board members led by chairman James Obare Nyarunda, the assembly trade committee members, a representative of Maendeleo ya Wanawake Organization, the chairman of the Chamber of Commerce and a nominee from all the 45 wards.
Mr Lumumba noted that the scheme was passed as an act of the Kisii County Assembly to establish a Trade Credit Scheme with an objective to provide access to affordable credit for start-ups, micro, small and medium enterprises, and agribusiness and; producer groups to promote trade development and economic growth of the locals.
“This is a revolving fund aimed at facilitating investment in micro, small and medium enterprises that benefit the youth, women and persons living with disabilities. It’s therefore important for borrowers to ensure they repay funds acquired to enable other groups benefit," he added.
Each MCA nominated one representative to participate in the training. The participants will be taken through the Act and regulations governing the scheme, entrepreneurship skills to guide them on identification and vetting of deserving beneficiaries.
Mrs Kangwana noted that the fund would be increased to Sh50million in the next financial year, stressing that the initial amount will be used to pilot the project.
“We intend to transform the scheme to a Biashara fund that can attract funding from donors. We assure the public that only the deserving groups will benefit from the fund after undergoing a vigorous vetting process,” she added.