Written by Protus Simiyu 2012-06-09 08:57:00 Read 702 Times

54 Community Based Organizations (CBO) In Bungoma West District will benefit from the Sh. 400 M from the government through the Poverty Eradication Commission.

Speaking at a Sirisia church, Commissioner of poverty eradication program in Western Province Prof. Joseph Musaa said   the beneficiaries have already been sensitized on how to effectively use the money.

Prof. Musaa that the funds are non-interest repayable loan aimed at assisting residents to establish business ventures to make them self sustainable and economically empowered.

 He said the revolved funds are meant to act as a start up to enable residents to be in position to source for funds from other arms of the government including commercial to expand their commercial ventures.

“According to the commission the funds are meant to act as seeds, and if the groups will plough it into viable business enterprises, then we are sure the amount will multiply and continue assisting the area residents,” he said.

 The Commissioner disclosed that the main objective of the commission is to sensitize and assist residents of respective districts to actively engage in business investments in line with the country’s Vision 2030.

“The groups have 3 months grace period before they can begin repaying the money without any interest so that other groups can benefit from the fund,” Prof. Musaa said.

He stated that apart from the 54 groups, all registered CBO’s in Bungoma West District will receive loans from the commission saying the allocation is not enough to be given to all groups at once.

Further, he appealed to groups that were not shortlisted for this year’s funding to be calm and remain focused insisting that at long last all groups will benefit from the poverty eradication funds.

On his part, the chairman of the program in Bungoma West District Mr. Omari Njofu urged the CBO’s to use the money for the intended business projects saying his office will remain alert and ensure no single money is misused.

Mr. Njofu refuted claims that 4 Million that was awarded last year by the Poverty Eradication Commission, a large percentage was misused.

“It is on record that we only used 400,000 as the allowed administrative fee and 3.6 was allocated to varies CBO’s, people should depend on here says, our office is open to public,”  he charged.

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