Kenya: Trust Offers Sh850m in Loans to Women
The East African Standard
The East African Standard (Nairobi)
October 20, 2006
Posted to the web October 19, 2006
Stephen Makabila
Nairobi
Over 19,000 women in Rift Valley Province will benefit from a Sh850 million loan from the Kenya Women Finance Trust (KWFT) by the end of this year.
The KWFT Rift Valley Regional Manager, Mr John Kamundia said the bank disbursed loans amounting to Sh552 million between January and September.
"The remaining loans amounting to Sh298 million will be extended to our members in the province before December," said Kamundia.
Beneficiaries are mostly from Bomet, Sotik, Nandi, Keiyo, Uasin-Gishu Nakuru, Nyahururu, Molo, Eldama-Ravine, Kericho, and Naivasha.
Kamundia was speaking in Eldoret when the KWFT launched a water tanks loaning scheme for women in the North Rift. Uasin-Gishu DC Mr Benard Kinyua presided over the launch.
"Most women are involved in small businesses and the KWFT can help them in expanding the businesses if they become members," Kinyua said.
Over 54 women from Keiyo District who are KWFT members benefited from the first delivery of the Roto water tanks worth Sh870,000. Another 80 tanks, Kamundia said, will be dispatched to members soon.
"Because of our low interest rates, the membership in Rift Valley Province has increased from around 17,000 to 19,421 over the last year," said Kamundia.
KWF is charging a 20 per cent interest on loans extended to members with the repayment period ranging between one to three years.
"A loan of between Sh10,000 to Sh98,000 is repayable within a year. The highest amount we can offer is Sh3 million repayable in three years," said Kamundia.
Repayment rates by the clients has been 100 per cent successful because members seeking loans are first trained on its proper use before being funded.
Kamundia said that apart from money, KWFT also offers loans in form of other products and services.
"We offer gas cylinders and cookers, solar systems installation, community phones, school fees and emergency loans and micro-insurance policy called Kinga ya Jamii Life Assurance cover," added Kamundia.
He challenged women in the North Rift to take advantage of the financial assistance being offered by the KWFT to apply for loans to improve their living standards.
-Microcredit!!! Hooray!
(if you want to read a rant, see risetovotesir.blogspot.com)
The East African Standard
The East African Standard (Nairobi)
October 20, 2006
Posted to the web October 19, 2006
Stephen Makabila
Nairobi
Over 19,000 women in Rift Valley Province will benefit from a Sh850 million loan from the Kenya Women Finance Trust (KWFT) by the end of this year.
The KWFT Rift Valley Regional Manager, Mr John Kamundia said the bank disbursed loans amounting to Sh552 million between January and September.
"The remaining loans amounting to Sh298 million will be extended to our members in the province before December," said Kamundia.
Beneficiaries are mostly from Bomet, Sotik, Nandi, Keiyo, Uasin-Gishu Nakuru, Nyahururu, Molo, Eldama-Ravine, Kericho, and Naivasha.
Kamundia was speaking in Eldoret when the KWFT launched a water tanks loaning scheme for women in the North Rift. Uasin-Gishu DC Mr Benard Kinyua presided over the launch.
"Most women are involved in small businesses and the KWFT can help them in expanding the businesses if they become members," Kinyua said.
Over 54 women from Keiyo District who are KWFT members benefited from the first delivery of the Roto water tanks worth Sh870,000. Another 80 tanks, Kamundia said, will be dispatched to members soon.
"Because of our low interest rates, the membership in Rift Valley Province has increased from around 17,000 to 19,421 over the last year," said Kamundia.
KWF is charging a 20 per cent interest on loans extended to members with the repayment period ranging between one to three years.
"A loan of between Sh10,000 to Sh98,000 is repayable within a year. The highest amount we can offer is Sh3 million repayable in three years," said Kamundia.
Repayment rates by the clients has been 100 per cent successful because members seeking loans are first trained on its proper use before being funded.
Kamundia said that apart from money, KWFT also offers loans in form of other products and services.
"We offer gas cylinders and cookers, solar systems installation, community phones, school fees and emergency loans and micro-insurance policy called Kinga ya Jamii Life Assurance cover," added Kamundia.
He challenged women in the North Rift to take advantage of the financial assistance being offered by the KWFT to apply for loans to improve their living standards.
-Microcredit!!! Hooray!
(if you want to read a rant, see risetovotesir.blogspot.com)
posted by Al at 11:20 AM
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