Kilifi Governor Amason Kingi has urged Women and Youth to form cooperatives and self-help groups to directly benefit from The Kilifi County Microfinance Fund popularly known as the “Mbegu Fund”. – By Ramadhan Kambi.
Speaking in his office, Governor Kingi said since the launch of the fund three years ago, it has had a positive impact to the people of Kilifi with thousands of people improving their source of livelihoods.
“When we discovered that many Kilifi residents had the urge to start their businesses but had no capital or seed fund to support it, we came up with this act to empower them. It has been a life changing program for many,” he said.
The Governor also said that the fund is among the best in the country and it was recently given a clean bill of health by the office of the auditor general for its transparency in disbursing the funds.
“I also want to thank the Mbegu fund committee that was recently named by the auditors as among the most transparent county government lending entity that has help transform lives for the community,” he said.
During the event, the Governor also launched the 2020-2023 Mbegu Fund strategic plan, a blue print on the future of the kitty to the residents.
“We continue to create avenues for our youth and women groups to access funding for their start-ups, expand their small businesses and enhance self-reliance as we push to improve livelihoods at the grassroots level,” he said.
The launch of the Kilifi County 2020-2023 Mbegu Fund Strategic Plan he said adds momentum to our quest to empower small enterprises (SMEs) and cooperative societies by promoting entrepreneurship, innovation and embracing new technologies.
“With Sh201 million allocated to this seed fund in the 2020/2021 financial year, we are confident that the Mbegu Fund will continue playing a significant role in addressing unemployment and eradicating poverty in Kilifi County. I urge our youth and women to form cooperatives and self-help groups to benefit from this interest-free seed fund that is already changing lives in our County.”
