By Violet Auma || violetmedia8@gmail.com
The government is set to merge various financial organizations offering loans into one major institution known as ‘Biashara Fund.’
This announcement was made by the Cabinet Secretary for Cooperatives and MSMEs, Wycliffe Oparanya, during a public event at Khwisero Stadium in Kakamega County.
According to Oparanya, the initiative is in its early stages and is aimed at streamlining loan disbursement processes while eliminating service overlaps.
The new entity, Biashara Fund, will serve as a centralized financial agency that will provide loans for industrial development and cater to specific groups, including women and youth.
Currently, three major funds Uwezo Fund, Youth Enterprise Development Fund, and Women Enterprise Development Fund operate separately, each with its own management and administrative structures.
By integrating them into one organization, the government aims to enhance efficiency and make access to credit easier and more transparent for beneficiaries.
Speaking at the event, Oparanya emphasized that the move is designed to empower small and medium-sized enterprises (SMEs) and individuals seeking financial assistance to grow their businesses.
“This merger will create a one-stop shop for government loans, ensuring that entrepreneurs, young people, and women have easier access to funding without unnecessary bureaucracy,” he stated.
During the event, the Cabinet Secretary also presided over the issuance of Uwezo Fund cheques amounting to Ksh57.5 million, as well as Youth Fund loans totaling Ksh28 million for Kakamega County beneficiaries.
The disbursement is expected to support various businesses and startups within the region, ultimately contributing to economic growth and job creation.
Local leaders, led by Khwisero MP Christopher Aseka, lauded the government programs to support groups across the country.
Oparanya noted that many potential beneficiaries had previously struggled to navigate the different loan programs due to overlapping structures and complex application processes.
In addition to the loan initiative, the leaders also commended the government for scrapping the Ksh300 fee that was previously charged to first-time applicants for national identification cards.
This move, they noted, would encourage more young people to register for IDs, which are essential for accessing financial services and participating in national elections.
The leaders urged the youth to take advantage of the waiver and register in large numbers in preparation for the 2027 elections.
The announcement of Biashara Fund marks a significant step in the government’s broader agenda to support SMEs, boost entrepreneurship, and create employment opportunities.
By consolidating resources under a single agency, the government hopes to provide a more efficient and sustainable financial support system for Kenyans.
The rollout process for Biashara Fund is expected to involve consultations with various stakeholders, including financial experts, business owners, and community representatives, to ensure that the new institution effectively addresses the needs of different groups.
Oparanya assured the public that transparency and accountability would be key in managing the new fund, emphasizing the government’s commitment to fostering economic empowerment at the grassroots level.
