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Business Loans – Article by Emily Ogeta

According to the United Nations in the Human Development Index (HDI) 2017 report, unemployment in Kenya is the highest in the East African region hitting a new high at 39.1 percent. This makes it the highest than its neighboring Ethiopia, Tanzania, Uganda, and Rwanda. Based on the above facts, government of Kenya introduced Youth empowerment funds which is accessible at the Sacco courtesy of Kenya Union of Savings and Credit Cooperative (KUSCCO).

In order to deal with unemployment, Sacco members are encouraged to own businesses as groups or as individuals in order to create employment opportunities for young people through entrepreneurship. Youths who start small businesses are therefore encouraged to be job creators and not job seekers.

Sacco’s in partnership with KUSCCO and Youth enterprise development fund developed a Business product called Vijana Loan aimed at Empowering the youths to access business loans. Even though the Vijana loan is for members aged 18years to 36 years, other members can also access Business loan products by visiting Sacco credit team for advice.

 

 

Last modified on Friday, 08 September 2017 11:58
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