Re-engineering of group loans

A joint technical team comprising of officers from the Women Enterprise Fund (WEF), Youth Enterprise Development Fund (YEDF), Financial Inclusion Fund (FIF), Kenya Industrial Estates (KIE), and Uwezo Fund has been formed with the aim of re-engineering group lending products through capacity-building programs.

In the meeting Chaired by Principal Secretary MSME Development Hon. Susan Mang'eni, it was agreed that there is a need for agencies to lend to performing groups and increase on their loan limits. 

The PS pledged to take a lead in developing curricula for both groups and officers through the Kenya Institute for Business Development (KIBT), which will act as a baseline for operations.

Further, the technical team agreed that for seamless operations across different agencies and sectors, there is a need to share resources with mobile network operators as a way of ensuring seamless operation across different agencies and sectors.

 Additionally, development partners will assist with off-budget financing for the outreach and capacity-building initiatives.

 “Moving forward, the technical team will develop terms of reference for the technical team and prepare a concept paper on achieving deliverables, including timelines and budgets. This will enable The State Department for MSMEs Development to effectively implement the proposed changes and enhance the impact of our group lending programs” PS Mang’eni