Sh45m revolving fund set up to give Kwale traders interest-free loans

KWALE COUNTY: The county government has rolled out its first ever Trade Revolving Fund that will help small-scale traders access interest free loans to expand their businesses.

Thursday, cheques worth Sh45 million were issued to various businesspeople with the highest beneficiary receiving Sh400,000.

Speaking when he issued the cheques at Baraza Park in Kwale town, Governor Salim Mvurya said the move is part of his pledge to help alleviate poverty.

"We are working towards delivering on the dreams and expectations of residents. This county will never be the same again," he said.

The governor said his administration will marshal resources to ensure that the county's economy grows and its people thrive.

"For the past 51 years, Kwale has lagged behind economically and it is only through devolution that our county can progress," he said.

Mvurya told the fund's beneficiaries that they will receive training from specialists on business-related matters, saying the county wants to empower them so that they too can mentor upcoming entrepreneurs.

ANNUAL EVENT

"We have also partnered with UNDP to set up a Business Solution Centre where our businessmen and women will get solutions to challenges they encounter and ease the processes of business registration," he said.

The governor said this centre will be a one stop shop aiming to compliment businesses that are launched.

He said the Trade Revolving Fund will be implemented annually and will ensure new applicants benefit each year.

Mvurya, at the same event, gave employment letters to 450 Early Child Development (ECD) tutors who are expected to report to various stations once schools re-open.

The governor told the teachers they are expected to work diligently in setting a proper educational foundation for these nursery children.

His sentiments were echoed Deputy Governor Fatuma Achani who challenged the ECD tutors to dedicate themselves to the work they have been employed to do.

"The future of children in this county is dependent on your efforts as a caregiver," she said, adding that parents have no excuse for keeping their children out of school yet each ward has a bursary kitty of Sh11 million.

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