Oparanya launces mkopo mashinani trade loans intiative

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Wiycklife Oparanya the Kakamega County Governor speaking in a past event

 

Wiycklife Oparanya the Kakamega County Governor
Wiycklife Oparanya the Kakamega County Governor

Kakamega County Governor, Wycliffe Oparanya, has urged youths and women to embrace free interest loans initiatives being offered by both the national and county governments via various channels in order to improve sources of livelihood and living standards as well as spurring economic growth and development in the county.

Speaking at Tande Secondary School ground in Malava Sub County where he officially launched the Mkopo Mashinani Trade Loans programme, Oparanya said the purpose of the initiative was to help reduce poverty level and the gap between the poor and the rich.

“With about 2 million mouths to be fed, the purpose of this noble initiative is to help Kakamega County reduce her poverty level index and thereby bridge the gap between the poor and the rich,” noted Oparanya, who disclosed that six out ten people in the county were currently living below the poverty line.

“In fact majority of our people can’t even afford two meals in a day,” observed Oparanya.

Through the Mkopo Mashinani initiative small scale business operators in Kakamega county, especially youth, women and disabled persons, will access loans ranging between Shs.5, 000 and 50,000 through the Kenya Commercial Bank (KCB), which the governor said was approached to manage the funds on his administration’s behalf in order to avoid fraud and other challenges associated with loan disbursement and repayment.

The Governor revealed his government through the Ministry of Trade, Industry and Tourism had allocated Shs.125 million during the first phase Mkopo Mashinani initiative, “depending on successful outcome of the first phase, I can assure small scale traders in the county that more funds will be increased towards realization of this project,” promised the governor

He also encouraged area residents to also access and put to wise use funds offered by the national government including Uwezo and Women Enterprise.

Several MCAs and Malava MP, Malulu Injendi, as well as Mr. Stanley Livondo who has declared his interest in Kakamega County senatorial seat graced the occasion.