KNCCI issues Sh10m loan to Kilifi traders

BySacco Review

Jan 17, 2022
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By Tsozungu Kombe

The Kenya National Chamber of Commerce and Industry (KNCCI) has issued out loans worth Shs 10 million to 137 traders from Kilifi county to enable the traders to boost their undertakings.

Speaking to Sacco Review in Malindi town recently, KNCCI chief executive officer Mr Ahmed Abdalla said the traders will pay the loans without any interest.

‘The loans were disbursed to traders in the county for three months. We waived the loan interests to enable traders in the region come forward in large numbers to take loans to enhance their businesses.’Mr. Abdalla noted.

He added that the trend will enhance the traders’ economic status.

He revealed that 67 out of the 137 traders have already started paying their loans.

‘I would like to urge the loan beneficiaries to cooperate fully and pay promptly so that other traders can also benefit from the same loan products,’ he said.

 He cautioned traders in the region against defaulting from their payments adding that those who will default will be blacklisted and not given any loans.

KNCCI Kilifi branch’s current membership stands at 1,000 members.

Mr. Abdalla asked the county residents to join the Chamber in large numbers so that they can get loans which have no interest to boost their activities.

He revealed that the Chamber has helped to pay fees for over 50 youths to acquire various skills in different fields like Carpentry, Masonry, Hospitality and entrepreneurship at the Vocational Training Centers ( VTCS ) in the county to enable them to be self-reliant.

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