26 January 2013

Kenya: Few Teso Women Take State's Cheap Loans

TESO Cheaper and affordable Women Enterprise Fund loans are lying idle with few women submitting their applications to acquire them.

The funds Western region coordinator Nelson Ondiek said since the launch of the fund five years ago, only Sh3.8million had been loaned out.

"Why go for high interest loans and yet funds that you repay with no interest are available?" Ondiek asked.He said the department of social services still needs to carry out a lot of capacity building to educate women on the benefits of the fund.

Teso North DO Andrew Mutua urged women and the youth to capitalize on cheaper subsidized government funds to empower themselves economically.

He said most groups collapse due to lack of a clear investment agenda since they acquire loans and fail to use on intended purpose.

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