Nairobi — Over 12,000 micro, small, and medium-sized enterprises (MSMEs) have so far benefitted from the Impact for Northern Kenya (INK) Fund financed by USAID Kuza, which lends capital to the underserved population in northern counties.
The 43 million-dollar fund aimed at fostering economic growth and empowering locals to adapt to the effects of climate change has also created over 25,000 direct jobs since it was launched back in 2021.
USAID Resilience Coordinator Jennifer Maurer said that the fund has been instrumental in empowering women entrepreneurs by providing them with the financial resources and support needed to succeed.
"These numbers are not just statistics, but life-changing experiences that represent resilience, hope and the entrepreneurial spirit from the people of Isiolo, Marsabit and Samburu counties and the entire northern Kenya region at large," said Maurer during the Unveiling Opportunities: Redefining Northern Kenya as an Investable Destination-themed conference.
The fund through loans has supported women-led businesses in sectors like agriculture, livestock, and trade that have been at the forefront of driving sustainable development and creating employment opportunities in the Northern region.
"A key focus of the INK Fund has been to support businesses that contribute to environmental sustainability. By investing in enterprises that promote renewable energy, climate-smart agriculture, and waste management, the fund is playing a crucial role in mitigating climate change impacts in the region, generating jobs and building a more resilient community," added Maurer USAID Resilience Coordinator.
The conference highlighted discussions about cutting-edge methods like feedlotting and commercialization to increase productivity and breeding techniques to improve livestock production, as well as the integration of a gender perspective into agricultural development initiatives with an emphasis on empowering women.
The meeting, which is the third in a series of USAID Kuza's efforts to devolve the Northern Kenya Investment to specific counties, attracted investors, local entrepreneurs, government officials, and development partners targeting to create a synergy of ideas, expertise, and resources to drive inclusive and sustainable investment in the region, which is often disregarded in discussions about investment and development.
