House 1

Nakuru County Assembly roots for law to create SME loans fund

THE Nakuru County Enterprise Fund Bill 2019 which will seek to provide accessible capital and credit by micro and small enterprises (SMEs) has sailed through second reading.

The Trade, Tourism and Committee report on the bill also seeks to empower women, youth and Persons with Disabilities (PWDs) through financial support for their enterprises and reduce poverty and increase household income in the county.

The Committee Chair Hon. Paul Langat said the bill once passed will create a legal framework for the enterprise funds.

 “The Fund shall be used to provide affordable loans or credit for business capital, provide skills and business development related to the Fund, provide technical assistance in product and market development and facilitate technology acquisition, adoption and utilization of the Fund,” read part of the bill.

It also indicated that a person operating or intending to operate a legal enterprise or business within the county will be eligible for the fund.

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