Women Enterprise Fund disburses Sh11 million to groups in MigoriNovember 4, 2019
NAIROBI, Kenya, Nov 4 – Over 50 women groups in Migori County have received Sh11 million from the Women Enterprise Fund in the last two months.
The groups comprise 634 beneficiaries, an average of 10 members per group who hail from Awendo, Kuria East, Kuria West, Nyatike, Rongo, Suna East, Suna West and Uriri Sub counties which form Migori County.
Data from the fund shows that the women invested 56 percent of the loan in Trade while 36 percent of it was invested in the Agriculture sector. The balance was invested in other areas such as Poultry farming and Maize Production.
Speaking during a cheque issuance ceremony in Kuria East, WEF CEO Engineer Charles Mwirigi said the issued funds is aimed at reducing the marginalization of women by empowering them to actively participate in economic development.
“Inability to access the right markets for their products and services has led many businesses with the potential to fail, hence our coming on board to offer Market support which is critical for the growth and general success of women-owned enterprises in Kenya,” said Eng. Mwirigi as he released Sh1.2 million to 131 groups in Kuria East.
The support to the women groups is part of WEF commitment to address hurdles faced by 70 percent of Kenyan Women and Youth who remain marginalised and unable to grow and sustain enterprises, especially in rural areas.
“The loan from WEF has helped our group expand and set up a sustainable table banking platform which has enabled me to expand my business and enroll my son to a mechanical institution. It has empowered us economically as women from Suna East sub-county,” said Quinter Adek one of the beneficiaries from Awang Rech Women Group in the county.
According to Woman Enterprise Fund officer in charge of Suna East Sub County Judith Mwangi, WEF has enabled women to get out from their homes to the Market, where they get economic empowerment. “We train and educate them on different group and individual loan groups that can boost their livelihoods,” said Mwangi.
The Fund offers different kinds of loans to women entrepreneurs that are registered with them, with the loan cycle ranging from Sh 100,000 to Sh750,000 which support women to sustain businesses across a range of industries including; trade, agriculture and manufacturing.
Since inception, at least 2, 360 groups from Migori County have received Sh250.85 million from WEF, which has registered an 89 percent repayment rate.
Nationally, WEF has disbursed Sh16.9 billion to over 100,000 groups benefiting 1.6 million people.