The Mountain Journal
Murang’a county government has appointed Economic expert Prof Kinandu Muragu the chairman of the County Small Traders Empowerment Fund.
The appointment of the members of the fund comes after the Controller of Budget approved the operation of Wachuuzi Sacco after the county government formulated the regulation policy.
The fund will control Sh100 million that will be loaned to the small scale traders majority without bank accounts
County Finance and Planning Executive David Waweru appointed Muragu the chairman and counselor Monica Njeri Muiruri and Joyce Waiyego and chief officer in charge of trade the members to the advisory board.
The kitty is designed to provide interest-free loans to small-scale traders among them hawkers estimated at 100,000.
After the senate failed to pass the Governor Mwangi wa Iria the Hawkers Bill, he formulated small-scale traders society fund designed to provide them with soft loans.
The fund was approved by Murang’a County Assembly, as controller of budget directed formulation of policies that will guard the kitty from abuse.
In the Kenya Gazette, Waweru has appointed the members of the board to be in office for a three-year term with effect from January 27.
Among the demands by the controller included outlining the qualification of the beneficiaries of the kitty.
“The county government will be working with partners to ensure the traders benefit from the kitty for the growth of the businesses,” said the governor.
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