This archive report was first published on 18 July 2019.
On July 18, 2019, Mandera County launched a five-year trade development fund to facilitate entrepreneurship and strengthen small businesses.
According to Governor Ali Roba, the fund will provide Sh368 million to support the majority of small and medium enterprises in the county.
Out of the total Sh368 million, Sh50 million has been set aside for the financial year 2019/20 to kick-start the fund, which will run up to 2023.
“The fund will go a long way in helping our families engage youth in constructive activities and deter them from joining radical groups,” said Governor Roba, adding that the loans would be repaid without interest.
Mr. Roba urged potential beneficiaries to take advantage of the county’s position to tap into the cross-border trade with Ethiopia and Somalia, expanding markets for local products and creating more jobs in the export sector.
He also announced that the county is in partnership with the national government to lobby for the reopening of the border between Kenya and Somalia, which was closed down in 2014.
The county’s trade department is expected to train traders and the youth on available business opportunities with good returns for the sustainability of the revolving fund.
Governor Roba directed the fund’s custodian to be transparent in awarding the fund, ensuring that only deserving cases receive the loans.
“You do not have to know the governor, an MCA, or a minister to qualify for the fund. All applications will be treated fairly, and priority will be given on merit,” Roba said.
