Nakuru County traders in the informal sector have a reason to smile this is after the county government entered and a MoU on pension scheme with National Social Security Fund for them.
The MoU was signed on Tuesday by Nakuru Governor Lee Kinyanjui and NSSF Chairman Rtd Gen Dr. Julius Karangi.
Speaking after the signing, Nakuru Governor Lee Kinyanjui said this is a boost to Nakuru which becomes the first county to launch the program next month.
Under the program, traders in Nakuru markets and other target groups will deposit savings daily and be able to get a loan or withdraw 50 percent of the savings after five years.
“Traders in our markets and other target groups will deposit savings daily. They will be able to get a loan or withdraw 50 percent of the savings after five years” said Kinyanjui.
Kinyanjui added that the move is in line with his promise to empower Small and Medium Enterprises in Nakuru County.The two leaders also discussed the possibility of launching affordable housing in Nakuru town based on Nairobi's Embakasi Nyayo Estate model.
The signing of the MoU was witnessed by acting NSSF CEO Dr. Anthony Omerikwa, Nakuru CECM for Trade and Tourism Raymond Komen and Chief Officer Hussein Adan.
Meanwhile, the County government of Nakuru under the leadership of Governor Lee Kinyanjui have been working on preparations for a housing scheme to fulfill its desire to contribute to the Government of Kenya Big Four agenda of 500,000 homes by 2022.
Dubbed ‘The Naivasha Affordable Housing Project (NAHP)’ the Project, which is supported by the World Bank Group and DFID, aims at developing 2,400 affordable housing units on a 55-acre piece of land in Naivasha.
The project entails a joint venture agreement between the County Government of Nakuru and private investors. On Wednesday, Nakuru Governor Lee Kinyanjui will unveil a Request for Qualifications (RFQ) targeting applications from interested and eligible.