With the increased taxation especially on value added goods in Kenya, the level of unemployment has unfortunately risen quickly and steadily. It has become an everyday affair to hear of people complaining of the high cost of living in Kenya and all the bills they have to foot such as house rent or school fees in Kenya. Uwezo fund in Kenya, which was launched in 2013 by Hon. Uhuru Muigai Kenyatta is a government of Kenya project initiated to empower women in Kenya and empower youths in Kenya. Uwezo Fund in Kenya is a means of availing capital for business enterprise growth in Kenya. Initially budgeted for the presidential runoff in Kenya in march 2013, Uwezo Fund in Kenya has finance key objectives. The finance objectives of Uwezo fund include: increasing finance to Kenyan public through grants in Kenya and credits in Kenya- hence promoting women businesses in Kenya and youth businesses in Kenya at the county level in Kenya. The Uwezo Loan in Kenya also aim at boosting entrepreneurial spirit in Kenya especially among women and youths in Kenya, and to form a substitute funding base in Kenya for the whole community in general.
How to access Uwezo fund in Kenya
There are certain criteria that need to be met in order to qualify for Uwezo Fund in Kenya. To access Uwezo fund in Kenya, you need to sign up for a capacity building program in Kenya, ensure you meet the eligibility requirements for Uwezo Fund in Kenya. Uwezo fund in Kenya is made especially for youths in Kenya, women in Kenya and persons with disability (PWD) in Kenya. You also need to apply for Uwezo fund in Kenya by filling up the Uwezo Fund application form in Kenya. The Uwezo Fund application form in Kenya can be obtained from any of the constituency offices in Kenya such as in Mathira Constituency, the Constituency offices are in Nyeri town. The Starehe Constituency office in Nairobi is on Ngara Road. The Uwezo Fund application forms should be submitted with the relevant documents for the approval of your constituency committee members in Kenya. The Uwezo Fund application form in Kenya must be accompanied by a signed guarantee form committing you to repayment of the loan in Kenya- that has guarantors in case of default in repayment of loan, and recommendation letters for Uwezo fund from persons of authority in Kenya such as political figures like chiefs or church leaders.
Requirement for application of Uwezo Fund in Kenya
There are certain conditions required for qualification of Uwezo fund in Kenya. Women in Kenya and youths in Kenya qualify for Uwezo Fund after Registration of a group with social service offices in Kenya and recognition of the group by the Department of Social Services in Kenya. Department of social services vary with an area in Kenya for instance the department of social services in Nakuru is located in the Gender and social services offices near Nakuru Law courts. The group of women or youths in Kenya which qualify for Uwezo Fund in Kenya must be with a limited membership of 5 members to a maximum number of 15 members. The members of the group qualifying for Uwezo fund in Kenya must also be between the ages of 18 and 35 years. The group qualifying for Uwezo Fund must have been in existence and functional for more than six months. The group qualifying for Uwezo Fund must also be operating a table banking formation in Kenya- where members make monthly contributions to a group bank account which carrys the name of the group as a whole. In order for Religious institutions in Kenya to qualify for Uwezo Funds in Kenya, they are obligated to register as entities in Kenya with women and youths listed in their groups and they must have recommendation from the inter-religious council of Kenya. Inter-Religious Council of Kenya(IRCK) offices in Nairobi are on Mararo Road which is off Gitanga Road in Lavington Green area of Nairobi.
Beneficial aspects of Uwezo financing in Kenya
The main advantage of getting start up business capital in Kenya through Uwezo financing in Kenya is that the loans in Kenya are Interest free. The government of Kenya Uwezo loans also allows a loan grace period of up to six months, before repayment of Uwezo loan in Kenya commences. The Uwezo funds and loans in Kenya are payable within two years from the end date of the loan grace period in Kenya, which means it takes a total of two and a half years to repay the Uwezo loan in Kenya. For more information about Uwezo Fund, you can visit your constituency office in Kenya or visit the Uwezo Fund official website at www.uwezo.net