Nyando Constituency NG-CDF is set to disburse cheques worth Sh2.5 million from Uwezo Fund to 26 deserving youth, women groups and persons with disabilities to help generate self-employment and enhance economic activities.
The funds provide zero interest financial credit to Small and Medium Enterprises (SMEs) and youth-led entrepreneurs, facilitating the initiation and expansion of businesses to drive economic development in alignment with the government’s Bottom-Up Transformation Agenda (BETA).
Uwezo Fund Field Officer in Nyando, Felix Ogalo, said the beneficiary groups included 20 new groups doing their first loan and 6 other groups processing subsequent cycles.
Speaking during a financial fitness training event held at the Nyando Social Hall, Ogalo said the Uwezo Fund Nyando Constituency Secretariat was through with the processes, awaiting the cheques distribution by the area MP, Jared Okello, next week.
“All 26 beneficiary groups have undergone training in best business practices, group dynamics, and financial literacy to help members grow their ventures and successfully repay their loans,” Ogalo stated.
A total of Sh1 million has been allocated to the new groups, with each receiving Sh50,000, while Sh1.5 million has been disbursed to the six groups applying for subsequent loans.
Mawaidha Bora group, applying for their third loan, received the highest allocation of Sh480,000 – a record amount to any group since the inception of the Uwezo Fund in Nyando Constituency.
“The Fund’s repayment rate in Nyando stands at 90 percent since 2021 to date, positioning the constituency among the top performers in Uwezo loan repayment, with more women and youth groups applying for the funds,” he said.
Nyando Assistant County Commissioner Shadrack Kirui, while speaking at the event, stated that the funds disbursement marked a significant step towards empowering local communities and fostering economic growth.
Kirui emphasized the importance of investing the cash into profitable ventures and ensuring timely repayment of loans to sustain the program’s effectiveness and impact.
“Beneficiaries are expected to repay the loans to improve your ability to increase the borrowing limit in subsequent cycles. We also need more people to come out and apply to benefit from this initiative,” he stressed.
By Robert Ojwang’
