Government through the Women Enterprise Fund (WEF) has launched ‘Thamini Loan’ targeting the widows in a bid to accelerate Women’s Entrepreneurship.
The platform enables widows across the country to grow their businesses by accessing finances through ‘Thamini loan’ product launched yesterday.
Speaking in Nairobi during the launch of their Strategic Plan, 2021-2024 Cabinet Secretary Public Service and Gender Cabinet Secretary Prof. Margaret Kobia said the new product aims at empowering women economically so that in return they can improve the quality of life in the entire society.
She termed widows as a vulnerable segment of women that needs support in accessing finances to grow their businesses.
“The programme aims to increase women entrepreneurs’ access to capital through innovative financing mechanisms (individual loans), increase women entrepreneurs’ use of business development services and technological advancements to support the vulnerable women in the society like the widows,” said Kobia.
The CS emphasised on the need to have committed leaders who will be key actors to lead the people in taking actions and influence behavioral change so as to achieve Gender Equality where everyone has equal opportunities for a better quality of life.
“I wish to reiterate my Ministry’s commitment to support WEF in all ways to ensure successful implementation of the programmes,” added Kobia.
Kobia lauded President Uhuru Kenyatta for being a champion of Gender Equality and called upon the partners to collaborate with WEF to demand accountability report on progress on the widow’s product ‘Thamini Loan’.
The Chairperson, Parliamentary Committee on Labour & Social Welfare Josphat Kabinga, assured Kenyans that the members of parliament will do what it takes to support the effort by WEF.
The WEF Chief Executive Charles Mwirigi said the Thamini financial product has special features because it is interest-free, has very flexible time to pay loan between 15-30 months, thus giving one time and opportunity to pay and no loan administration fee is charged.
Mwirigi thanked the government for its continued support to empower the most vulnerable group of people in the country.
The journey towards women economic empowerment is traced through different vehicles; starting from grass root organisations such as Mabati Women Group, Merry-go-rounds, Chamas, Saccos, Joyful Women Organisation (JOYWO) and Microfinance Institutions (MFIs).
By Catherine Muindi