Thika SMEs receive Sh4.8m to boost businesses

Saturday, June 27th, 2020 21:14 |
Beneficiaries of the Sh4.8 million for the SMEs

As micro and small businesses in the country continue to grapple with reeling effects of Covid-19, 45 groups from Thika, Kiambu County have received Sh 4.8 million to respond to the prevailing challenges.

The bodaboda operators, Jua Kali artisans, poultry farmers, and among other groups benefited from Uwezo Fund, a flagship programme for Vision 2030 aimed at enabling women, youth and persons with disability access finances to promote businesses and enterprises at the constituency level.

Thika MP Patrick Wainaina who distributed cheques to the beneficiaries said that small business enterprises are the growers of any economy as they create value at the lowest community cadre.

He said that the government has enough funds for expansion of small business projects and urged the youth, women, and people living with disabilities to take advantage of the interest-free funds to better their livelihoods.

Besides government funding, the MP called on upcoming entrepreneurs to source for finances from other financial institutions.

He lauded the government for banning importation of various locally manufactured goods thereby helping Kenyans to buy and build Kenyan products.

“The government has banned over 300 items through the Trade and Industry ministry which will now be sourced locally. This will greatly boost the earnings of our people and encourage more local production and innovations,” he said.

Through capacity building, Wainaina stated that Kenyans have continued to display great potential in technological discovery of societal solutions most needed in the country.

The group leaders who collected the cheques narrated that their businesses have been facing hard economic times since the advent of the global pandemic.

They said that Covid-19 preventive measures have resulted in an increase in operating expenses for businesses that continued to stay open.

Consequently, a majority of micro and small businesses, particularly in the service sector, were on the verge of collapse if the pandemic persists and current restrictions are maintained.

Led by Susan Wambui Ngure, the beneficiaries expressed optimism that their businesses will thrive after having received the boost.

“The monies we have received today will go a long way in helping us not only sustain our businesses but also take them to new levels which come with more stocks, job creations and ultimately more returns,” said Ngure.

Using the funding, they said they will manage to beat the harsh economic times to expand their entrepreneurial skills and in return create more jobs.

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