Women Enterprise Fund Disburses Ksh 11 Million to Women in Migori County
- 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.
NAIROBI, Kenya: Friday, November 1, 2019 – Fifty-Eight women groups in Migori County have received Ksh 11 million from the Women Enterprise Fund in the last two months.
The groups constitute of 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 Kshs.1.2M 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 enrol 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 Ms. Mwangi.
The Fund offers different kinds of loans to women entrepreneurs that are registered with them, with the loan cycle ranging from Ksh 100,000 to Ksh 750,000 which support women to sustain businesses across a range of industries including; trade, agriculture and manufacturing.
Since inception, atleast 2, 360 groups from Migori County have received Ksh 250.85 million from WEF, which has registered an 89 percent repayment rate.
Nationally, WEF has disbursed Ksh 16.9 billion to over 100,000 groups benefiting 1.6 million people.
For media enquiries please contact:
Gloria Kubai (Marketing, Research & Comm.)
Women Enterprise Fund
Notes to editors
About Women Enterprise Fund
Women Enterprise Fund is a Semi-Autonomous Government Agency under the Ministry of Public Service, Youth and Gender Affairs that promotes the realization of 1st and 5th Sustainable Development Goals on poverty reduction, gender equality and women empowerment respectively. The Fund is a Vision 2030 flagship project under the social pillar that seeks to make Vulnerabilities. The vision of the Women Enterprise Fund is ‘a transformed Kenyan woman contributing to sustainable socioeconomic development.’ And the mission is ‘to mobilize resources for sustainable access to affordable financial and business support services to empower Kenyan women.’
Since inception, the Fund has received Ksh.5.5 billion from the National Treasury and cumulatively disbursed loans totaling Ksh. 16.9 billion to 1.6 million women entrepreneurs countrywide. The Loan Repayment Rate stands at 97%.
Through the various collaborations, a total of 1.14 women have undergone various trainings to empower them socially and economically.
The Fund’s programme is built on the opportunities that lie in strengthening women’s entrepreneurship and improving their access to credit and business support services in the sectors where the majority of women’s businesses operate.
The Fund has a robust ICT infrastructure that supports and enhances efficiency and effectiveness in service delivery and has been at the forefront of employing technology to serve Kenyan women efficiently as is evident in the use of M-PESA for loan repayments, a robust internal system and techno-savvy modes of communication evident by the recognition through the ICT Association of Kenya (ICTAK) Award 2014 “Best use of ICT (State Corporation Category)”. For more information visit Women Enterprise Fund Website on www.wef.co.ke