Ksh8 million has been distributed to 80 new groups in Laikipia West Constituency, and Ksh2.5 million distributed to 11 groups that were returning borrowers.
Ksh500,000 was the largest loan given to groups in the Constituency.
Uwezo Fund Chief Executive Officer Peter Lengapiani said the Fund aims to empower and support enterprises owned by the target groups to generate self-employment and economic progress.
Lengapiani made the remarks on Friday September 27, 2024 while presiding over the issuing of cheques at Sipili Trading Centre in Ol-Moran Ward, Laikipia County.
The event was hosted by Uwezo Fund Constituency Patron and MP for Laikipia West Karani Stephen Wachira and graced by Uwezo Fund Board Director Ms. Wanjiku Muhato and County woman representative Jane Kagiri.
Uwezo Fund Board Director Ms. Wanjiku Muhato stated that since its inception, Uwezo Fund has disbursed a total of Ksh7.8 billion to 81,517 groups across the country.
”I am pleased to announce that the funds has been disbursed to various groups across the country with over 52,846 Women groups, 26,605 Youth groups and over 2,066 groups of persons living with disabilities getting the funds and a total of 46% of the money borrowed has been repaid,” Muhato said.
She went on to state that in Laikipia West Constituency, Ksh 27,322,357 has been allocated and through prudent management, that has evolved into Ksh 40,275,000.
”The amount has been disbursed to 352 groups comprising of 277 women groups, 71 youth groups and 4 groups of persons living with disabilities while close to 5,037 individuals have also benefited from the same kitty,” she added
By offering registered groups of women, youth, and people with disabilities in the nation accessible, inexpensive, and interest-free lending facilities, the fund promotes the nation’s bottom-up economic transformation.
The leaders present during the event advocated for an increase in the kitty allocation so that more groups can access the funds.
They praised groups from Laikipia for having positive repayment rates, which has allowed more people to access the funding.
Meanwhile, Uwezo Fund CEO encouraged recipients to re-invent their operations and to welcome calls to join cooperative societies, saying that this will reduce marketing obstacles and invest in value-added products.
The area MP, on his part, complimented the Fund, claiming that it has improved families’ living standards while also guaranteeing students to complete their studies.
In addition, he advocated for an increase in the government’s kitty allocation.
”I have a plan to table a motion at the national assembly as this kitty has been of great benefit to a good number of people as as you have seen, only here in Sipili, various groups have narrated their success story and this is a clear indication that more funds need to be allocated to Uwezo Fund kitty,” Karani said.
Some of the Constituency’s beneficiary groups presented their products, which included chicken farming, small-scale shops, and beading.
The stories showed the potential for small-scale companies in Laikipia West to promote sustainability and socio-economic progress in the county.
For instance, Mazingira Safi, a group of 16 people, shared their success story during the occasion, mentioning that they began in 2014 with Ksh50,000 invested in chicken and table banking on a monthly basis.
Following repayment, they received a loan of Ksh200,000.00, which they used to raise goats.
The group was excited about the opportunity to receive a third loan of Ksh400,000 from Uwezo Fund, which they intend to use for expanding their table banking business.
Victory Women Group shared their remarkable tale, explaining that they began in 2001 with 25 members.
In 2014, they acquired an initial capital of Ksh50,000, which they invested in table banking.
The group obtained successive loans totalling Ksh100,000, 200,000, and 400,000. During the occasion on Saturday, the group received Ksh500,000, which they intend to use.
