Funds
The Uwezo Fund, in partnership with Githunguri Constituency Member of Parliament Gathoni Wamuchomba, yesterday disbursed Sh2.39 million to 18 beneficiary groups in Githunguri.
Uwezo Fund is a flagship programme for Vision 2030 aimed at enabling women, youth and persons with disabilities to access finances to promote businesses and enterprises at the constituency level. Speaking at Githunguri Stadium, Chairperson of the Uwezo Fund Ann Njuguna, emphasized that the Fund was created to address socio-economic challenges, mostly the growing issue of youth unemployment.
“The Fund was established as an intervention to provide solutions to challenges faced by mwananchi, particularly unemployment among the youth,” Njuguna said. She further encouraged more youth to take full advantage of the fund’s offerings for their socio-economic advancement and embrace teamwork.
Additionally, Njuguna reaffirmed the Fund’s commitment to empowering and creating tailor made products to better tackle unemployment. “The Fund is in the process of restructuring its operations and developing unique products, such as individual loans for the youth, to better address unemployment,” Ms. Njuguna noted.
Wamuchomba noted that the people of Githunguri have consistently led the way in repaying loans from the Uwezo and Youth Funds. “In the whole of Kiambu, Githunguri is ranked first in paying back the Uwezo fund and youth fund debts,” she said.
Of the total Sh2,390,000 disbursed, Sh1,040,000 went to new groups, while refinancing groups received Sh1,350,000 and the highest highest allocation to a single group was Sh300,000. Established in 2014, Uwezo Fund is a Government Empowerment Fund through expansion of access to finance to facilitate initiation and expansion of women and youth enterprises.
Since inception, the Fund has disbursed more than Sh7.2 billion and directly supported 1,124,221 beneficiaries of which 69 percent are female and 31percent male through provision of affordable and accessible credit, capacity building on entrepreneurship skills, basics on book keeping and market linkages and networking.
