Nakuru County Governor Susan Kihika has launched Wezesha
Funds, a Sh100 million financial empowerment initiative targeting small
businesses and cooperatives.
The program, unveiled at the Agricultural Training Centre
(ATC) in Soilo, features the Nakuru County Enterprise Fund and the Cooperative
Revolving Development Fund, aimed at easing access to affordable credit for
MSMEs and cooperatives.
The Enterprise Fund offers loans between Sh50,000 and
Sh200,000 to registered groups at 8 percent annual interest, while the
Cooperative Fund provides Sh200,000 to Sh5 million loans at the same rate.
“So far, six cooperatives have qualified for Sh21 million, while 95 groups have secured Sh16 million,” Kihika said Friday.
“To ensure transparency, the County Government has
partnered with Kenya Commercial Bank (KCB) for loan appraisal and disbursement.”
Governor Kihika urged traders, boda boda riders, CHPs,
farmers, women, and youth to join Saccos or groups to access the funds.
She noted that 2,762 out of 3,300 CHPs had already
registered with the Nakuru CHP Sacco.
She also encouraged them to register for the Social Health
Authority (SHA).
“SHA works. Pay for
SHA and we’ll ensure you’re taken good care of at the hospitals.” The Governor
reminded beneficiaries that the money is a loan and must be repaid in full to
allow others to benefit.
She welcomed partnerships with donors, financial institutions, and the private sector to grow the fund through grants and co-financing.
With this launch, Nakuru joins other counties advancing
affordable credit to drive grassroots economic growth.
KCB General Manager David Nyamu encouraged responsible
borrowing, promising to increase loan limits up to five times—and eventually
ten times—for consistent borrowers.
He said Nakuru has the potential to become a leading
investment hub
