Marginalized groups will now benefit from financial inclusivity and entrepreneurial training offered by Uwezo Fund in order to help drive economic expansion through the Micro, Small and Medium Enterprises (MSMEs)
This follows the unveiling of the Uwezo Fund Oversight Board by Cooperatives and MSMEs Development Cabinet Secretary Simon Chelugui who has directed the board to ensure the funds reach women, youth and People Living With Disabilities (PWD).
“We expect the board to diligently steer the fund to greater heights by providing guidance. Your mandate is grounded in the principles on the Bottom-Up-Economic Transformation Agenda (BETA),where the objectives and purposes of the Fund are established to enhance financial inclusion and promotion of MSMEs for the vulnerable,” said Chelugui.
Chelugui urged members to partner with other stakeholders in enhancing the reach and impact of the Fund as well as monitor and evaluate the performance of the Fund to ensure it meets its objectives.
“The board will be responsible for developing loan products, promoting capacity building and training, supporting innovation and entrepreneurship, promoting local content and products and reducing bureaucracy, this will empower the groups to seize opportunities in the building and construction sector as well as value chains within dairy, leather, edible oils and cotton industries,” he said.
Since technological advancement has a profound influence on business operations, the cabinet secretary called upon the board to complete the digitalization process immediately..
“I challenge you to align your documents to the MTP IV the fifth generation strategic plans guidelines ,ands the Government Development Agenda realization of the overall government objective in the MSME sector,” he added.
Since the inception of the Fund, a total of Ksh 7.4 billion has benefited over a million individuals cross 290 constituencies.