Enhancing Effectiveness and Transparency in Uwezo Funding Program

Earlier today, alongside the Uwezo Fund board members, we briefed the Cabinet Secretary, Ministry of Co-operative and MSME Development Hon. Wycliffe Oparanya, EGH on our loan product. 

The meeting centered on enhancing effectiveness and transparency in Uwezo funding program in meeting the needs of Kenyans at the bottom of the economic pyramid. 

The engagement deliberated on updating and reforming key regulations to align with current needs, prevent political interference and ensure fair, unbiased selection for the Constituencies and streamlining table banking initiatives.

Uwezo Fund is an initiative by the Government of Kenya aimed at empowering youth, women, and persons with disabilities by providing access to interest-free loans to help them start or grow businesses. 

The fund was established in 2013 to address unemployment and poverty among these marginalized groups.

To ensure its efficiency, the Cs called on the board to introduce a digital system to prevent multiple borrowings and enhance tracking of defaulters and to establish a dedicated unit to recover the 58% of funds that are yet to be repaid.

Uwezo Fund has supported thousands of businesses across Kenya, especially in rural and underserved areas. It has empowered many beneficiaries by providing capital to start or grow their businesses, fostering entrepreneurship, and improving the standard of living.

The fund is a critical enabler for the MSME sector for it contributes in reducing unemployment and promoting inclusive economic development which aligns with the Bottom-Up Economic Transformation Agenda.