In a paid advertisement appearing in today’s dailies, the Government of Kenya through he Ministry of Devolution and Planning has confirmed that the regulations governing the Uwezo Fund management and operations have been approved by Parliament.
Therefore, youth and women who are in groups may apply for the funds of between
Ksh. 50,000 to Ksh. 500,000 at any one time. The interest rate chargeable this financial year (FY 2013/14 ) is 0%
Who is eligible to receive the funds?
1. Youth Groups registerd with the Department of Social Services, Cooperatives or the Registrar of Societies, with members aged between 18 and 35 years
2. Women Groups made of women aged eighteen years and above
3. Registered institutions that have listed youth and women groups within them
4 The groups must be based and operating within the Constituency it seeks to make an application for consideration.
5. The group should operate a table banking (like a Chama) structure where members make monthly contributions according to the groups’ internal guidelines( evidence of monthly contributions will be a requirement).
6. Groups must hold a bank account in the name of the group.
How much can a group apply for?
Groups can qualify for a minimum of Ksh. 50,000 and a maximum of Ksh. 500,000 at any one time. The interest rate chargeable this financial year (FY2013/14) is 0%
How to apply
Step 1: Develop a unique business idea and prepare a simple business plan.
Step 2: Ensure that you meet the eligibility criteria
Step 3: Fill an application form detailing the groups proposed business plan. This form will be available from Tuesday 25th February at the respective constituency Uwezo Fund Management Committee office, located within the CDF offices in your constituency.
Step 4: Submit the application form together with relevant documents to the Constituency Uwezo Fund Management Committee office, located within the CDF offices in your constituency. These include evidence of monthly contributions, group registration documents, group bank statements and any other documentation required.
Application for funds shall be accompanied by a signed guarantee form executed by each member of the women or youth group individually committing to repay the loan requested by the group.
Step 5: Await notification of the Constituency Uwezo Fund Management Committee.