KSh. 4.5 million and Sh. 2 million seed capital for People Living with Disability and County Muslim Sacco (Al-Mutajarah) respectively
Post by Dorine.
Meru Governor Peter Munya has allocated Sh. 4.5 million and Sh. 2 million seed capital for People Living with Disability and County Muslim Sacco (Al-Mutajarah) respectively for empowerment.
While launching the Saccos at Meru National Polytechnic the Council of Governors chairman said this was an afterthought initiative purposed for a special needs groups, to assist members’ borrow money and access facilities for investments.
"This is an initiative of the County Government of Meru, the first in the country to be initiated to empower our people. This is only seed money and we will add more soon in second tranche. PLWD members will be borrowing at no interest rate," he said.
Munya urged residents to take advantage of already started County schemes that are enhancing and improving lives like Saccos.
He added that residents should not be hoodwinked instead by his critic’s remarks, stating that he will continue increasing funds aimed at liberating their livelihoods.
He added that the County has and is continuing to educate residents to borrow, utilize and get good returns from established Women, General Traders and the Youth Sacco category.
"County has distributed seed capital to groups in the last two years ago. Total savings from all members range up to Ksh. 283 Million," he said.
The county gives loans at five per cent interest rate.
Munya noted that the circulation of money is liberating people challenges after distribution of Sh.67 million of the second tranche of Meru County Sacco’s funds to empower Youth, women and General traders.
"My administration has mobilized and posted great impression in generating income to boost these groups businesses. In the beginning of this year our county has been rated as the most improved in terms of developing cooperatives societies. This is to sustain resident’s needs through giving them cheaper loans to up lift their livelihoods," he said.