Kilifi county launched the Sh200m Wezesha Fund, a micro-finance loan facility to aid MSMEs

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The Kilifi County government has launched the Sh200 million Wezesha Fund, a microfinance loan facility to support micro, small and medium enterprises (MSMEs) in the region.

The programme will be implemented through a partnership agreement between the county government and two financial institutions, Rafiki Micro Finance and Kenya Commercial Bank (KCB). Under the agreement, the two institutions will provide up to Sh1 billion in loans to successful borrowers, who will be charged a 4 per cent account management fee for each successful disbursement.

Speaking to the press after the launch, Governor Gideon Mung'aro said the funds were an increase from the past when only Sh116 million was disbursed under the previous regime when it was called the Mbegu Fund.