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Speeches

TALKING POINTS BY SICILY K. KARIUKI, (MRS) CBS, CABINET SECRETARY, MINISTRY OF PUBLIC SERVICE, YOUTH AND GENDER AFFAIRS DURING A CHEQUE ISSUANCE CEEMONY IN SOTIK CONSTITUENCY ON 27TH JUNE 2016

County Commissioner

Hon. Dr. Joyce Laboso, MP, Sotik Constituency

Distinguished Guests

Ladies and Gentlemen

It is with immense pleasure that I stand before you on this occasion to issue cheques to women of Bomet County, specifically Sotik Constituency.

I note that indeed the Affirmative Funds have come a long way in supporting the women, youth and persons with Disability in this constituency.

The Government, through these Funds and other programmes aims at ensuring that marginalized populations can access necessary capital to implement their business ideas, generate incomes and improve their livelihoods.

Today, Ksh.5.6 million worth of loans will be issued to 41 groups by the Women Enterprise Fund. Sotik constituency has cumulatively received Ksh.35,940,000.00

million benefiting4,847beneficiaries.

The repayment of 81% in Sotik though not good, can be improved through your efforts by ensuring that you repay your loans on time, to enable other women to borrow. This will reaffirm that the revolving funds concept has actually taken root and is working.

To date the Fund has disbursed Ksh.Kshs 8,350,289,050 throughout the country to 1,228,456 beneficiaries.  

The success of the Fund has proven that government funded programs can succeed and collateral free lending can work.

I take note that some groups will soon be servicing their maximum graduation loan amount of Ksh.500,000. My Ministry has enhanced the loan amounts to a sixth and seventh level of ksh 750,000 and Ksh. 1,000,000 respectively. This is because you have proven that they can be entrusted with huge loans without collateral.

This is notably, notwithstanding some of the some of the challenges experienced in this journey;

  1. Pockets of insecurity which negatively affect borrowers
  2. Vagaries of weather, given that 71% of lending goes to agricultural related activities in this county, and
  3. Religious and cultural factors in some parts of the county.

My Ministry has put in place effective policies to address these challenges. I believe that will succeed with your continued support.

I am pleased to say that the Fund has initiated formation of 91 Women Owned SACCOs across the country. In Sotik, we only have one women owned   SACCO; Gotabgor Women Sacco, which was allocated Ksh. 3m by WEF in FY 2011/2012

I challenge you to take up the initiative and form more SACCOs so that you can benefit from the existing structures that have been put in place with the Fund.

I thank the women and youth for coming out in large numbers to borrow money and repay.

Kindly take full advantage of the Women Enterprise Fund, Youth Enterprise Development Fund and the UWEZO Fund to acquire finances for your own development. These Funds offer other support services apart from lending. They will assist you in marketing, incubation, linkages, mentorship, etc.

My ministry is continuously investing in Capacity Building Programmes to ensure that the uptake of 30% access to Government procurement increases and benefits the intended groups.

The Fund supports women to finance their tenders through LPO financing up to       Ksh. 2,000,000 million.

As I conclude, I appeal to all beneficiaries to repay the loans promptly to enable more Kenyans to benefit and also ensure the sustainability of these programmes.

It’s now my honour to issue cheques to the target groups.

Thank you.

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