Boost for small businesses eyeing County tenders as Kilifi County launches fund partnership

Small business people eyeing County tenders in Kilifi County have got a boost after Governor Gideon Mung’aro’s administration partnered with local banks to finance them.

Mung’aro said that through the Wezesha Fund, the county has partnered with Kenya Commercial Bank and Rafiki Micro Finance Bank to lend business people money for county projects at reasonable interest rates.

The move is aimed at helping youth, women and various groups within the county to be able to finance tenders that they win.

“Our people have had difficulties in accessing or raising capital to finance projects they get from the county government and other players but with the Wezesha Fund, we will be able to disburse credit facilities to them at affordable rates, so people who have been saying that they have won tenders but do not have money to implement the projects should wipe out their fears,” he said during the launch of the Fund partnership at his official residence in Kilifi town.

The County has deposited KES 200 million for the 2023- 2024 financial year to the two banks which will enable local business people to have a pool of Sh. 1 billion shillings to borrow from.

“With the financial institution partnership, we will have the capacity to loan up to Sh. 1 billion as they march every shilling with Sh. 5 shillings. We have ensured that the loans are completely interest-free with beneficiaries only paying a one-off four percent management fee,” he said.

The fund will be accessed from the ward level where the county officials and community representatives will be used to vet would-be beneficiaries with Mung’aro adding that those who win tenders will automatically qualify for the fund so long as they have accounts with either KCB and Rafiki Micro Finance.

“I want to tell my people that if they wanted to do work for the county government and your problem was funding, get your tender and go to Wezesha fund and you will get the money. The fund is not only limited to county projects but also private businesses so long as they have an account with the two banks,” he added.

The banks will also train beneficiaries on financial management during the loaning period.

Mung’aro reiterated that one of his plans was to promote local business people and that is why he renamed the fund from the previously known name, Mbegu Fund to Wezesha Fund so that residents do not portray the fund as a grant.

His predecessor who is also the current Senate Speaker Amason Kingi started the Mbegu Fund in 2015 and by the end of his second term, he had disbursed KES 320 million.

“Since the inception of the fund which was by then known as Mbegu Fund, KES 320 million has been disbursed to 2229 groups and 32 cooperatives and we changed the name from Mbegu Fund to Wezesha Fund since residents confused Mbegu Fund with the maize seeds that we distribute free of charge,” Mung’aro said.

The KCB country Managing Director Anastacia Kimutai said that her institution will offer financial training for beneficiaries to enable them invest their money diligently.

“We offer financial access and training. I, therefore, welcome all SMEs within Kilifi County who will enroll in the Wezesha program to take advantage of this offering so that we can scale our dream,” she said.

Her sentiments were echoed by Rafiki Microfinance bank Manager for the Mtwapa branch Samuel Mburu who said that the bank will help beneficiaries of the fund to grow their business.

“The intention is to make sure that the trader in Kilifi County, does not actually end up suffering and business sipping out of Kilifi County but the business is able to circulate within Kilifi County and our traders are able to move from one level. We want to see micro traders moving to become SMEs to MSEMs and if it is possible we want to see corporates sprouting out of Kilifi County,” he said.

AM Live

AM Live is NTV's morning current affairs show that sets the agenda for the day with insightful panels every weekday.

BNX

Business Redefined

Business Redefined is Kenya’s premier thought leadership platform for unpacking matters regarding economic and finance policy as well demystifying complex developments in the region’s capital markets.

Entertainment

A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula

Full Episodes

A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula

Gumzo La Sato

Gumzo La Sato is a live social issues show that aims to create awareness about issues affecting the larger society. The discussions range from Parenting, Marital bliss and struggles, Oppression, violence, and all matters of the Heart.

Health Diary

Health Diary is a weekly show that highlights different types of diseases/conditions and seeks ways to prevent, treat/manage them. The show debunks this through real life stories and also feature specialists in different fields, to offer medical advice on the same.

Letter To My Younger Self

Letter To My Younger Self is a podcast where guests get to write a letter to their younger self, from which Maxine formulates questions to ask them during the hour-long show.

Mazao Talks

Mazao looks at agriculture and agribusiness

Nation Reports

Nation Reports is a weekly podcast offers an opportunity for listeners to interact with various reporters and journey with them as they unravel the biggest most emotive stories.

One Health Lens Podcast

Discussing health matters and human stories from Kenya and across Africa. We talk big picture from people to policy, ecosystems, and everything in between. Follow us on LinkedIn: https://www.linkedin.com/company/onehealthlens

Paradise Lost

Paradise Lost peeks through the story of Louis Otieno, the times, and everything in between.

Podcasts

Podcasts

Speaking of GEN Z

Speaking of Gen Z brings you entertaining but meaningful conversations about a generation that is trying to navigate through adulthood. Join hosts Michelle, Jackie and Esther as they unravel all things Gen Z.

Sport On

Sport-On is a 30-minute sports magazine show on NTV and 3 hours on NATION FM. The show seeks to give the sports “fanatics” and “funatics” comprehensive and in-depth coverage of sports both locally and internationally.

Tech-over

The extent of technological growth is beyond mere acknowledgment; it has seamlessly integrated into our daily existence. A few years ago, the notion of paying electricity bills through mobile money or recharging with 'tokens' in Kenya seemed inconceivable. Online product sales were considered distant, and artificial intelligence is rapidly reshaping various facets of our lives. Amidst these technological leaps, those with a solid understanding of tech can navigate challenges, seize opportunities, and build a sustainable livelihood. Tech over Show aims to be the platform facilitating discussions among thought leaders, innovators, tech companies, and the government, addressing challenges and opportunities in Kenya's thriving tech industry.

Thamani

Thamani is a business show which is dedicated to emerging issues regarding micro, small and medium size businesses.

The Politalk podcast

This is The Politalk podcast. Here we look into the ins and outs of everything Kenyan politics. We pull no punches and have no reason to sugarcoat anything that matters to Kenyans.

The Trend

A two-hour-long live show that airs on Fridays. The show focuses on what is current in the entertainment industry, controversial and popular across all media platforms targeting those aged between 25 and 35 years.

The trend podcast

The trend podcast highlights and captures the best of banter from #TTTT segment that airs every Friday on NTV. It's the TTTT EXTRA

The Wicked Edition

The Wicked Edition with Dr. King’ori seeks to address serious issues through humour and relatable wit. It is a two-part half hour show filmed in front of a live audience

Trending

A collection of our premium content. Diam curabitur vehicula A collection of our premium content. Diam curabitur vehicula

Twende

Twende is a travel show that highlights beautiful, unique, diverse locations, people, and cultures. The show offers fresh perspectives on familiar locations and memorable experiences in new ones.

Unscripted

This Saturday evening lifestyle show lets viewers share their stories and life experiences as openly & honestly for the purpose of shifting the culture of silence.

VIP Access

VIP ACCESS is Anyiko Owoko’s YouTube and podcast show on Music and Culture dedicated to promoting Africa’s most promising talent and creatives. This podcast grants you VIP access into timeless interviews while providing a platform for rising as well as established artists across the continent. Since launching in 2018, Anyiko has interviewed over 70 African music stars.

WADR

This weekly news show aims to have all sides of debate but not be constrained by it, listen to main voices in the contest but not allow them to hold the viewers hostage, entertain debate but allow push back with all due respect.

When death do us part

In this podcast, three widowers openly speak about the process of grief, how they found themselves exposed to the emotional turmoil of losing their wives, and how society still does not know how to deal with them.

Your World

Your World is a health, wellness and variety show. It provides a platform for audiences and experts to share their experiences on how to improve or manage health issues, across Kenya and the Africa region.