The Kenya National Chamber of Commerce and Industry (KNCCI) has pledged to partner with the County Government of Kakamega to achieve the National Government’s Big 4 Agenda.
In addition, KNCCI Chair Kakamega branch, Fellow of Chartered Professional Accountants (FCPA), Wycliffe Kibisu, says the chamber is interested in supporting the County Government in realization of its vision and service to residents.
Kibisu added that the chamber will partner with the county to develop an elaborate social protection fund to support the vulnerable in the society.
Speaking in Kakamega, Kibisu urged the County Government to incorporate them in the microfinance institutions committees which have been created by the County Government to share their financial management experiences for the success of the program.
The Chief Executive Officer (CEO) of KNCCI Kakamega, Mr. Nickel Tari Okumu, disclosed that MasterCard Foundation partnered with the chamber to provide over Sh8 million interest-free loans to business persons in Kakamega County to enable them bounce back from adverse effects of Covid-19.
The loans have so far benefited more than 300 business people. Tari said that already Sh3.5 million of the loans has been repaid by the beneficiaries. “Each business person was receiving Sh30, 000 with a grace period of two months to repay,” he disclosed.
He noted that those in the retail sector are doing better in repayment of the loans urging the beneficiaries to repay the loans to benefit other business people in the county.
Tari advised business persons to register with the Chamber as members to benefit from the loans and other opportunities for growth. “We are also looking for more partners to improve the welfare of our members,” he noted.
Source: Kenya News Agency