A community based organization in Nakuru has established a Community Investment Fund aimed at revolutionizing community based savings and investments projects among local youth and women.
The Bibliographic Society of Kenya Project (BISOKEP) based in Nakuru - West deals with community based information and social work charity activities, has embarked on an investment programme targeting over 10,000 local youth and women drawn from various local youth and women groups and individual levels.
This is according to the group coordinator Joseph Musila who talked to this writer at the group’s office in Shaabab estate today.
Musila said that the investment programme involved registering as a member and as an investor to guarantee a monthly dividend accumulation payable quarterly at an average rate of 40%.
Musila clarified that the Accumulated fund will be invested in community based small scale busineses, which will involve the registered members thus doubling benefits.
‘’This is a case of talent search and implementation into income generating projects by us for us and for society,‘’ said Musila.
He added that the community based organization that has been registered by the department of culture and sports will seek partnership and support from local and international stakeholders.
Some of the slated small scale investment projects include; craft centres, agri-business, performing arts, community libraries and environmental conservation activities.
The officials of the group that comprises of former college and university students engaged in self employment and community leadership initiatives.
The group hopes to raise Sh. 10M from the project by the end of this year as a share capital for the community investment project.