Small scale traders in Kisii County will now be able to access credit to scale up their businesses following the passage of the Kisii County Trade Credit Scheme 2015 bill by the assembly today.
The bill provides for the establishment of a Trade Credit Scheme. The scheme will offer loans as startup capital to individuals, producer business groups, and micro, small and medium enterprises within Kisii County.
Members of the County Assembly unanimously endorsed the bill undertaking to sensitize the electorate on the need to take advantage of capital provided to set up businesses in the county.
The envisaged Credit Scheme will be tasked with providing funds for granting low interest loans to promote small scale traders and entrepreneurs in the county.
Trade Committee chairperson Hon Timothy Ogugu whose committee scrutinized the bill said they were keen to see that that the board selection is all inclusive. The Assembly brought in an amendment to allow their participation in the appointment of the chairperson to the Board once nominated by the Executive.
Governor James Ongwae is keen on integrating the youth in entrepreneurship skills for self-reliance. Two youths of either gender who will not be public officers appointed by the County Executive Committee Member Trade will be nominated to the board.
The board will also include the County Trade Development officer, the chair of the Kenya National Chambers of Commerce-Kisii County, chairperson of Maendeleo Ya Wanawake and chairperson of the association of Persons with disability-Kisii County.
The chief officer in charge of Trade or his or her representative will be secretary to the Board.
Those who apply for loans shall have their names publicized in the County gazette.
The assembly also passed an amendment that created sub county committees that will be chaired by sub county trade development officers who will be nominated by Members of the County Assembly. The bill that is an initiative of the County Government now awaits the Governors assent before its operationalization.
