This archive report was first published on 8 July 2019.
On July 8, 2019, National Treasury Cabinet Secretary Henry Rotich submitted regulations to the National Assembly for ratification, marking the beginning of the operationalisation of the Sh2 billion Biashara Kenya Fund.
The publication of the regulations signals the government's plans to amalgamate the Youth Enterprise Development Fund, Uwezo Fund, and Women Enterprise Development Fund into a single entity, providing a one-stop shop for targeted groups seeking business loans from the government.
Rotich also submitted three Gazette notices announcing his intention to wind up the three affirmative action funds within six months of National Assembly approval.
As part of the regulations, Rotich has appointed Gender Affairs Principal Secretary Safina Kwekwe as the administrator of the Biashara Kenya Fund, which will lend out funds at a concessionary six percent rate.
The Biashara Kenya Fund is an intervention aimed at supporting Small and Medium Enterprises, with the goal of expanding access to affordable credit, formalising and maturing retail trade, and strengthening the SME industry.
