Business
Wananchi in the rural areas driven by economic hardships to engage in illicit brew trade to earn a living have been advised to take advantage of Government loans to engage in legitimate business. Kenya Industrial Estates (KIE) North Rift Regional Manager, Foster Rono urged area residents especially those dabbling in illicit alcohol to shun such forms of making a livelihood and consider taking loans from the agency to start income-generating enterprises.
Speaking to members of the public during the Community Outreach to mark the National Substance Use Prevention Week, themed: Our Families, schools, workplaces, communities for a Sustainable Future for humanity, at St. Jude Catholic Church, Huruma, in Uasin Gishu County, Rono advised individuals to take affordable loans through agencies like Kenya Industrial Estates (KIE), Uwezo Fund and others to grow their startups.
He affirmed the commitment of the government agency to support and promote Small and Medium Industries with a focus on Rural Industrialization to boost socio-economic transformation in line with the Bottom-Up Economic Transformation Agenda (BETA) of the government.
“Our message to all people who are engaging in illicit alcohol trade is to abandon it and come to KIE and get financial support to find alternative forms of earning livelihoods like running a posho mill business, tailoring and garment making, and others; we are ready to support you even to find profitable business ideas,” he explained.
The Regional Manager explained that the agency offers loans from a minimum of Sh 10,000 to a maximum limit of Sh20 million at a lower rate of 10 percent which is affordable to every individual, group or company intending to borrow the money to support their business.
He added that one can qualify for a loan either as an individual, in a group, registered business or company with collateral like title deeds, log books and others.
Mr. Rono revealed that they have disbursed more than Sh100 million in loans since the beginning of this year. He expressed concern that men are the majority borrowers as he encouraged women to also consider taking loans to invest in business to boost their livelihoods and not leave the show to their male counterparts alone. “We have seen many times, that it is men who borrow money, but where is the female gender? Do not be left behind, if you do not have a title deed you can come as a group or bring car log books and you will be given money,” said Rono.
“If you are doing a business that has value addition in it, you can benefit from government funds through KIE. All businesses are welcome, tailoring, flour milling, milk processing and they are assured of partnership with KIE,” he added.