Nyaribari Chache Constituency Uwezo Fund Chairman Josphat Nyamache has asked Women and Youth from to begin meaningful projects to improve their lives through the Uwezo Fund loans.
Speaking to this writer in Kisii town, Chairman Nyamache said that they have given funds to 133 Groups in the Constituency whereby he advised the beneficiaries to invest in business and other income generating activities so that they can develop themselves and pay back the loans in time.
Nyamache said that the parameter they used to give the loans was the capacity in each group adding that the amount of money given was ranging between Sh50,000 and Sh100,000.
“We have given Uwezo Fund loans to 133 groups in the larger Nyaribari Chache Constituency. The beneficiaries should indulge in meaningful projects that will propel their economic gains and enable them pay back the loans,” advised Nyamache.
On the penalty to defaulters, the Chair said there is no specific penalty but pending bills in parliament that would stipulate laws to govern the initiative.
However, he sensitised the debtors to pay in time to avoid being penalised.
“In as much as there are no specific penalties, I advise those who have been given loans to pay them in time to avoid many eventualities including their properties being seized,” suggestedsaid Nyamache.
Uwezo Fund is a government initiative that was rolled out by President Uhuru Kenyatta’s Administration and is meant to economically empower Women and Youth to be self-reliant.