Women's fund to disburse Sh2.4b for entrepreneurs
Gender CS Prof Margaret Kobia (right) with Mwea MP Josephat Kabinga Wachira at a Nairobi in July during the launch of Thamini Loan, a special product for widows.
What you need to know:
- The Women Enterprise Fund has lined up a number of projects aimed at empowering women economically in the 2021/2022 financial year.,
- The fund will also enhance the women’s entrepreneurial skills through financial literacy by training 115,000 women.
The Women Enterprise Fund (WEF) has lined up a number of projects aimed at empowering women economically in the 2021/2022 financial year.
WEF last week, announced plans to disburse Sh2.4 billion to Kenyan women for start-ups and refinancing. The fund will also enhance the women’s entrepreneurial skills through financial literacy by training 115,000 women.
It will conduct value chain development training to 5,500 women entrepreneurs and support women groups to market their products by uploading their products on WEF Soko.
WEF Soko is an online marketing platform supported by the government to enable them access markets for their products.
In addition, the fund will facilitate sensitisation of 2,900 women on online marketing, product certification and business club formation for networking.
Details of the projects came up during the signing of the Performance Contract for financial year 2021/2022 at the Kenya School of Government, Kabete Campus in Nairobi. The ceremony was attended by Gender Cabinet Secretary Prof Margaret Kobia and WEF Advisory Board directors Julius Mugo and Fridah Njue.
Empower women
WEF in a statement said the event affirmed government's commitment to implement existing policies through programs that directly contribute to their well-being.
The event was also attended by chief administrative secretaries in the ministry including Rachel Shebesh, Beatrice Elachi and Dr Linah Jebii Kilimo.
WEF has lately come up with products tailored towards empowering women.
In January this year, the organisation unveiled two products, including a flexible lending model that gives more autonomy to individual women entrepreneurs.
The State Corporation also introduced enhanced financing to women groups of up to Sh1million, up from a previous ceiling of Sh750,000.
In July, the fund launched a special loan product for widows. Thamini, is a loan facility tailored to provide widows access to interest free group loans with no administration costs.
Since its inception WEF has disbursed more than Sh10 billion to self-help groups benefitting 1.2 million individual women across the country.
