A sacco in Limuru, on Monday, announced that they have set aside 1.5 million to benefit over 500 local youths in the area to establish their businesses.
Urikimo Sacco comprises of bodaboda operators, matatu and women groups. Its' chair lady, Faith Kirima, while speaking at the Kima Hall in Limuru town on Monday, said that the only thing that could boost youth living standards was establishing their own business.
She said that in order to fulfill this desire, the sacco had set aside 1.5 million that would benefit the youth to get loans. She said that their idea was driven by the fact that most youth groups complain of not being able to access government youth funds.
"Some youths fail to qualify to get youth funds from the government due to some requirements that they don't have. However, we are lowering some standards to enable them to acquire the loans," said Kirima.
She explained that crime activities and idleness is a major menace in the area by the youth due to unemployment. She said by so doing, they are also aiming at reducing such incidences among the youth as they were a great distraction towards a bright future for them.
Kirima pointed out that youths will need to be in groups to access the funds. She, however, noted that these groups should be registered for at least 3 months other than that of the government of 6 months.
"We want to urge the youth to apply for these loans before February 29,2016, as we intend to give them by late March. We will issue loans from as high as sh50,000 to sh100,000 to every group," said Kirima.