The County Government of Busia has signed a Memorandum of Understanding (MoU) with Women Enterprise Fund (WEF), thus becoming the first County to sign an MoU with WEF.
The Governor Sospeter Ojaamong signed on behalf of the County Government with WEF chairperson, Commissioner Njoki Kahiga signing on behalf of the Fund.
Under the MoU, WEF will endeavour to change the livelihood of women, create wealth and employment opportunities for women, youths and people with disability across the county.
Commissioner Kahiga said the MoU is the beginning of a journey the Fund has started with the County Government of Busia becoming the first county to sign an MoU with WEF.
“Busia County will continue to lead the way as other counties seek to emulate that magnificent feat that will see the partnership build more with the fund earmarked to market their products locally and internationally,” she said.
The Governor said his government will mobilize the women groups and saccos to enlighten them on the need to access funds and have the fund capacity build them.
Ojaamong thanked WEF for availing the funds to groups at no interest and at one per cent interest to Saccos, urging beneficiaries to take advantage of the zero or low interest rates to access the funds.
The Governor later presided over issuance of WEF cheques to the tune of Sh9.7 million to various women groups, youths and people living with disabilities across the county.
WEF Chief Executive Officer, Charles Mureithi said a total of Sh280m has been disbursed to Busia to date excluding Sh9.7m, with groups from Matayos Sub County leading with Sh67m and Teso North with Sh58.8m. Butula and Teso South have the lowest absorption rates.
Deputy Governor Moses Mulomi urged groups to use the funds prudently and to repay their loans promptly to access more funding.
Trade Executive, Judith Maketso urged Women groups to transform their groups into Saccos to enable them access more funding; the current ceiling for groups is Sh1m but a Sacco can get to the tune of Sh10m.