The Women Enterprise Fund (WEF) has disbursed 21.3 billion shillings to more than 1.8 million beneficiaries across the country.
The fund is expected to introduce new individual loan products in July, to reach more women in the country.
Civil Service and Gender CS Professor Margaret Kobia said the new products will include chama loans, commercial loans, asset finance loans and kilimo (agriculture) loans aimed at providing more opportunities for women and men. women to access business development.
The SC spoke last week when she chaired the disbursement of affirmative WEF funds worth over 29 million shillings to female beneficiaries and an additional 10 million shillings to Times U Sacco in Tigania West, County of Meru.
Last January, the WEF announced that it would launch two new products that would empower women.
They include a new loan model that is more flexible and gives more autonomy to individual female entrepreneurship where women can borrow money for individual projects under the umbrella of their groups.
The fund also introduced increased funding for women’s groups of up to 1 million shillings, from a previous cap of 750,000 shillings.
The WEF, the National Government Affirmative Fund, the Youth Enterprise Development Fund and the Uwezo Fund are the affirmative funds that have been at the heart of the national government’s transformation and empowerment agenda.
An impact assessment study of affirmative action funds in Kenya conducted by the World Trade Organization last year, indicated that the beneficiaries had been extremely successful.
The survey showed increased access to credit, starting new businesses, contributing to self-employment, with business income being used to supplement school fees.
He also noted that there has been improved food security, investment in business expansion; increased access to local and international markets; and access to business development and entrepreneurial skills that enabled beneficiaries to actively participate in business development.