By Staff Reporter
Saccos and small business entrepreneurs
in Laikipia County will receive financial
boost after the County Government
set aside Sh35 million this financial year as
part of a revolving fund to revive Co-operatives
and improve small businesses.
According to the County Trade and
Co-operatives Executive, Ann Cheptoo, the
move will see members of Saccos and small
enterprises borrow funds from the County
Government at a lower
rate of five per cent.
The CEC who was
speaking in Nyahururu
town during the annual
general meeting for Home
Business Sacco recently,
said that the initiative
was started to ensure that
all Co-operatives sustain
themselves financially.
“We identified lack of
finances and poor management
as the major problem
facing our Co-operatives
and small businesses and
resolved to come up with a
solution,” Cheptoo said.
She added that out of this, Sh20 million
will go to Co-operative Development and
Sh15 million to Enterprise Development
Fund.
Cheptoo said the Bills to facilitate disbursements
were passed by the Assembly
and money has already been set aside.The
Home Business Sacco has more than 1,000
members drawn from small businesses and
professionals.
