25 March 2014

Kenya: Youths Fail to Repay Loans

YOUTH groups in Narok that were funded through Youth Enterprise Fund last year have been asked to repay their loans to be allowed to borrow again.

Fund officer Dominic Labarakwa said Sh31.85 million was given out to 577 groups to start income generating projects. Speaking to the press in his office yesterday, Labarakwa said only three groups have repaid the money in full.

He said each group received Sh50,000 for small businesses like poultry, livestock keeping and M-Pesa business among other projects.

Labarakwa said the ventures will avoid overreliance on formal employment. He said individual loans will be given out from April and urged the youths to apply.

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