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Youth To Get Business Loans In Two Weeks

Youth will now be able to get loans from the Youth Enterprise Development Fund within two weeks of application, down from two months. Board chairman Ronald Osumba said that this was achieved by analyzing the loan processing procedures, eliminating duplications and mitigating delays.”I am proud to note the progress we have made towards making the Fund more efficient, relevant and impactful”, he added. The chairman urged youth to take up YEDF loans in order to empower themselves economically. He called on youth to form groups as it is one of the best and easiest ways accessing funding for business startups. He added that the group loans being offered by the Youth Fund are easy to access considering that they are interest free and no collateral is needed, thus making it more flexible and realistic “Members within a group are accountable to each other, hence they keep each other on track ,share ideas and encourage each other”, he said.

Mr. Osumba was speaking in Mabatini area of Mathare constituency while presenting assorted food stuffs and beddings to area residents who were affected by fire tragedy which left over 500 houses burnt and over 1000 families homeless. “As an institution we empathize and recognize the pain of being homeless and are aware that majority of the affected are youth, women and young children who are key investors in the economic and social development of our country. With the right support, they can positively transform their community” he noted.

Mr. Osumba added that the Fund is encouraging loan uptake through sensitization and entrepreneurship training which it has intensified recently. He said that operations at county level were being consolidated thus easing the communication breakdown between YEDF Officers and youth at this level. “This will help our youth in accessing YEDF programs within a shorter period of time within their locality, he added”. Speaking in the same forum, Youth Fund CEO Josiah Moriasi noted that so far Kshs.18 million had been disbursed to 470 youth owned enterprises in Mathare Constituency and appealed to beneficiaries to repay their loans promptly so that more Kenyans can benefit. He urged the youth to visit the Fund’s offices countrywide to get information on how they can benefit from YEDF.

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