Meru: Hundreds of youth from Meru County engaged in small businesses and enterprises have received a major boost from a non-governmental organization through its Sacco wing. Shining Hope for Communities (SHOFCO), through its Sacco wing, has disbursed loans valued at Sh30 million to young entrepreneurs from Meru County to uplift their businesses.
According to Kenya News Agency, SHOFCO Chief Executive Officer Dr. Kennedy Odede said the organization is committed to uplifting vulnerable communities through targeted empowerment programmes. Odede noted that the organization’s main objective is to create opportunities for people to transform their own lives. ‘Today we have launched a resource center, which will host a library, community hall, and computer lab to enhance digital literacy in our community,’ he said. He emphasized that the loans disbursed to young entrepreneurs will help them boost their business returns.
Dr. Odede specified that the loans attract a minimal interest rate of six percent per annum and hence called on the youths to utilize the funds prudently. Meru Governor Isaac Mutuma welcomed the initiative, adding that his administration will partner with private partners and nongovernmental organizations keen on empowering the youths. He mentioned that through SHOFCO programmes, many residents have benefited through youth empowerment programs, gender-based violence response programmes, and training opportunities for young women.
Governor Mutuma stated that organizations investing in such initiatives make a lasting impact on generations by ensuring economic growth while reducing poverty in our societies. He advised the beneficiaries to make good use of the resources and opportunities given to them. Janice Kanana, a beneficiary of the programme, lauded the organization for boosting their businesses through the provision of funds. ‘I will buy modern equipment for my salon such as driers, sinks, and blow dryers; this will help me attract more clients to my salon business,’ she said.
