The government will merge the Uwezo Fund, Youth Fund, and Women Enterprise Fund into a single entity, the Biashara Fund, to streamline access to financing for small businesses and eliminate loopholes that have led to misuse, Cabinet Secretary for Co-operatives and MSMEs Wycliffe Oparanya has said.
Speaking in Khwisero Sub-County during the disbursement of Uwezo Funds, CS Oparanya said the consolidation aimed to enhance efficiency, improve resource allocation, and curb cases of individuals unfairly benefiting multiple times from different funds.
Oparanya expressed concern over youth and women taking advantage of the current fragmented system to access multiple loans unfairly denying others a chance to benefit. "We have cases where a woman applies for the Women Enterprise Fund, then again takes the Youth Fund, and later joins a self-help group to secure Uwezo Fund.
This is exploiting the system, while many others who need support remain locked out," said Oparanya.
