- Mombasa launches interest free loans for small traders.
- Traders can access up to Ksh 15,000 under the first phase.
- Stawisha targets youth, women and marginalised groups.
Mombasa County has rolled out a new economic empowerment programme called “Stawisha,” a revolving fund designed to give small-scale traders access to capital without the burden of interest charges.
Under the scheme, market traders, small-scale operators and micro-entrepreneurs can borrow seed capital to expand their businesses, with officials describing it as a practical entry point for petty traders who would otherwise struggle to meet formal registration and lending requirements.
Awareness campaign spans six sub-counties
County officials have started touring all 30 administrative wards across Mombasa’s six sub-counties to explain the fund to residents, covering eligibility criteria and the application process.
The programme is aimed at traders operating on a small scale, among them sellers of roasted groundnuts, potatoes, bhajias, fruits and fresh juice, along with those dealing in porridge, ice blocks, roasted maize and fish.
No interest on borrowed capital
Governor Abdulswamad Shariff Nassir said the fund would let small businesses borrow money without incurring interest, though recipients will still be expected to repay the principal so the fund can continue supporting new beneficiaries.
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He said the initiative is geared toward young people, women and marginalised groups, giving them a route to sustainable income that doesn’t rely on commercial bank loans carrying steep interest rates.
The first phase of the rollout introduces a product called “Biashara Mtaani,” through which qualifying traders can access loans of between Ksh 8,000 and Ksh 15,000 free of interest.
On-the-ground monitoring in Jomvu, Changamwe
Nassir toured Jomvu and Changamwe sub-counties to observe how the awareness campaign for the Stawisha fund was progressing on the ground.
He said all residents deserve a fair shot at accessing capital to start or expand a business, create employment and improve their circumstances.
According to the governor, the ongoing forums are meant to prepare residents ahead of the application window, especially those who may find the online system or eligibility rules confusing.
Cutting red tape for traders
Nassir reiterated his administration’s push to build a business-friendly environment that draws investment and helps residents transition from job seekers to job creators.
“We are taking economic empowerment directly to the people because when small businesses thrive, Mombasa and its people prosper,” the governor said, noting that the initiative is aimed squarely at traders shut out of mainstream banking.
He added that the fund cuts through the usual obstacles to financing and keeps paperwork to a minimum so traders can access support quickly.
Nassir said the model is structured so that repaid funds are recycled back into the kitty, extending the programme’s reach to more residents over the long term.
He described the initiative as central to his administration’s broader goals of reducing poverty, generating jobs and driving inclusive economic growth across Mombasa County.
By Benedict Aoya
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