The Uwezo Fund has to date disbursed Sh5.35billion to 290 constituencies, the fund’s acting Chief Executive Officer (CEO) Wilfred Buyema has said.
Mr Buyema said out of the 48,000 groups that applied for the loans, the fund has approved 41,000 groups drawn from all the constituencies.
The remaining groups, he said, would be funded by the end of this financial year.
The CEO was addressing the press on Thursday during a workshop on development of various documents for Uwezo Fund Oversight Board for directors and management at the Enashipai Hotel in Naivasha, Nakuru County.
Buyema said the response from groups was very positive.
“When the board was initiated over 15 months ago, we had targeted to fund 21,000 groups but we have instead funded 41,000 from the initial 48,000 applicants a clear indication that the regulations for qualifications are friendly,” he said.
He said the board was in the process of partnering with both the international and national organisations to assist various groups in marketing their products, which he said had been a challenge.
“People have various business ideas but the challenge has been getting linkages for marketing their products,” he added.
Buyema added that the board had since its inception embarked on a countrywide sensitisation program that had resulted in the high number of women, youths and people with disabilities applying for the funds.
He said the board would seek to strengthen the fund with a view of increasing the number of beneficiaries so as to catalyse the economic growth.
Uwezo Fund’s Oversight Board chairperson Wanjiru Gathira refuted claims that youths were not applying for the funds saying the overwhelming number of applications the board had received showed the contrary.
She said the board had requested for an increase of the funds from Treasury to cater for the large number of applicants.
She urged those who had benefited to promptly repay their loans so that others also get a chance of enhancing their businesses.
She noted that so far the board had not received any complaints of groups defaulting on repayment and encouraged the beneficiaries to keep up the spirit for economic growth.