Kilifi County Government has allocated 100 million shillings to be loaned out to cooperative societies and registered small enterprises.
The County Executive Committee Member for Trade and Cooperatives, Nahida Mohamed Athman, said the funds would be disbursed through a microfinance company based in the county known as Mbegu Fund.
Speaking during a cooperatives stakeholder meeting at the Barani Secondary School Athman said each registered group would access interest-free credit facilities of up to 2 million shillings.
Athman urged the residents of Kilifi County to join cooperative societies with a view of tackling poverty and creating wealth.
She said the county government was committed to promoting cooperative enterprises as well as training the youth, women, bodaboda riders, fishermen on best entrepreneurial practices so as to help create wealth.
Meanwhile, National Government Affirmative Action Fund (NGAAF) Chairperson, Regina Ndambuki, has urged women and youth groups in Makueni to ensure they meet the requisite requirements before applying for money from the fund.
Ndambuki noted that many groups had been disqualified for not following the guidelines including proof of projects undertaken, noting that women groups should have at least thirty members while youth groups should have fifty members.
She cautioned the groups to have a clear heirachy of leadership failure to which the Fund will withhold funds.
Ndambuki also called on local leaders to unite to achieve transformative development for the county noting that the fund was meant to empower women and the youth.