BY RUSHDIE OUDIA
Kisumu, Kenya: The Kisumu County Assembly now wants a loan fund for the youth operating small businesses put in place.
As a resolution following a four-day discussion on Governor Jack Ranguma’s speech, the MCAs said there are a number of youths in the county that need a boost in their businesses or capital to start one.
They proposed that some funds be allocated to cater for these youths and those traders interested in borrowing from the fund.
Kaloleni/Shaurimoyo MCA Prisca Auma said in the past, the municipal council and the Ministry for Trade had a similar joint venture.
Ms Auma said at the time, the Municipal Loan Board used to take care of the youth loan.
“The county government should have a similar venture where they collaborate with the national government to empower youth and women,” said Auma.
The traders within the municipality jurisdiction used to get between Sh50,000 and Sh100,000 for their businesses. Her counterpart for Railways Ward Isaiah Onyango said the county is capable of setting up funds that can empower the unemployed youth economically.
Mr Onyango said in the coming budgets, this should be put into consideration owing to the large number of traders in Kisumu.
“We have many traders interested in boosting their businesses but do not have the necessary collateral to acquire large sums of money from banks,” said Onyango.
Kondele MCA Gabriel Ochieng said the county should have its own ‘Uwezo Fund’ to benefit many self-employed people.
