Govt Launches Cheap Loans For Women in 11 Counties

Kenyans Aug 3, 2023Read original

The government in collaboration with Global Canada Affairs (GCA) on Thursday, August 3, announced that it was availing Ksh1 billion loan kitty to women in business.

During the launch of the loan program dubbedInvesting in Women in Blue Economy in Kenya, Mining Cabinet Secretary Salim Mvurya revealed the funds would be

According to the CS, the loan advanced by GCA will benefit businesswomen from Kwale, Mombasa, Kilifi, Tana River, Lamu and Taita Taveta.

Others are Migori, Siaya, Kisumu, Homabay, and Busia. The counties have been selected due to their contribution to the blue economy since they border mass water bodies.

A businesswoman selling fish in Kisumu County.PHOTO SEAFOODSOURCE

“Women in business now have a chance to get funds to grow their enterprises further,” Mvurya announced during the launch.

The loans will enable women in the selected counties to purchase fishing gear and grow their businesses.

During the launch, Mvurya announced that two women-led businesses had already applied for the loan and would get a disbursement of Ksh56 million.

The former Kwale governor urged other women groups and individuals to

He further noted that Global Canada Affairs envisioned using the funds to empower women in Kenya holistically.

Mvurya stated that empowerment encompassed women’s ability to participate in decision-making processes and give them a voice in shaping policies and strategies.

The Ksh1 billion kitty was announced a day after President William Ruto launched two low-interest loans aimed at empowering farmers across the country.

The President announced that the loans could be accessed through the

and Agriculture Finance Corporation (AFC).

“The credit will be provided at single-digit rates to further reduce our cost of production and enhance productivity,” the Head of State announced then.

President William Ruto in Machakos County on Thursday, August 3, 2023PCS