Over 100 youth and women groups that benefited from the Uwezo Fund in Nyamira south Subcounty have remitted close to Sh5 million as loan repayment in the last three months.
The sub county youth and gender Officer Theresia Mochama said the groups, which received between Sh50,000 and Sh250,000 have responded well to the repayment of the loans that started in the month of December after a grace period of six months.
She attributed the impressive repayment rate to close monitoring of the groups by the Uwezo Fund officials.
Addressing west Mugirango Constituency Uwezo Fund Committee meeting held on Wednesday in Nyamira town hall, she exuded confidence that by the end of this year, most groups will have finished repaying their loans, hence qualifying for more cash.
“Many groups have even surpassed the set target rates for repayment and so far one group has already settled the money loaned to the members,” she said.
The officer however disclosed that some groups had defaulted in the repayment but pointed out the fund committee will conduct visits to establish the root cause of the problem and lay down strategies that will enable the beneficiaries to repay the money.