Kilifi Governor launches mega project in bid to boost the economy

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Governor Amason Kingi  today, officially launched the Kilifi County Micro-finance Fund popularly known as the “Mbegu Fund”.

This is a revolving seed fund that aims to empower small and medium enterprises registered with the Kilifi County Government by providing interest-free loans which will act as capital either to start-up or expand their existing business enterprises.

Through the Mbegu Fund Board, his Government will now allocate 1% of the total County Budget to be set aside for disbursement of interest-free loans to small and medium enterprises (SMEs).

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This approximates to at least KES. 120M being disbursed annually as from the financial year 2019/20 going forward.

Kingi stated that this initiative is aimed at achieving a maximum outcome of contributing to industrialization, food security and creation of sustainable employment for the great people of Kilifi County.

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He also assured of their commitment as a Government in providing support towards empowering the Kilifi community economically through different business initiatives and ventures.

“I also take this opportunity to wish all the groups that have received their loans today all the very best in their business endeavours.” reads his statement in part

He also  encouraged Kilifi residents to proactively manage the available resources ; be innovative in order to achieve their aspirations as a County, including the Big 4 Agenda as envisioned by H.E President Uhuru Kenyatta.

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