In 2019, Nakuru County initiated legislative efforts to create an enterprise fund aimed at improving credit access for small and medium enterprises (SMEs). The proposed Enterprise Fund Bill, drafted by the county executive, would establish a legal framework to manage resources through grants, donations, and investment earnings.
County Trade and Tourism executive Peter Ketyenya highlighted that the initiative prioritizes women, youth, and persons with disabilities. The bill outlines mechanisms for allocating funds, including investment training, technical assistance, and technology adoption programs for SMEs, with beneficiaries required to undergo mandatory training before accessing financial support.
The legislation proposes forming a governing board to oversee the fund, ensuring transparent guidelines for loan disbursement. County Governor Lee Kinyanjui emphasized the administration's commitment to fostering business growth during a 2019 event at Wakulima Market, stating the initiative aims to reduce poverty and create employment opportunities by cultivating an enabling environment for all business sizes.
