Gender CS Sicily Kariuki.[Photo/the-star.co.ke]The Government has released Sh250 million in seed capital to a new savings co-operative that aims to advance loans to women.
The Sacco, Women Financial Intermediary Partners was launched by the Ministry of Public Service, Youth and Gender Affairs, and will be joining the Women Enterprise Fund (WEF) as another pool from which women can get financing.
Gender Cabinet Secretary Sicily Kariuki said in a statement that as opposed to the current situation where women can only borrow Sh750,000 from affirmative action funds such as WEF, they will now be able to borrow up to Sh5 million from the new Sacco, either as individuals or groups.
“The Sacco has already attracted seven women groups who have joined as members. It will provide affordable credit to women in small and medium businesses,” said Ms Kariuki.