Over 500 young entrepreneurs get financial support as SHOFCO expands programmes in Meru County

A total of 539 entrepreneurs benefited from the funding, which was disbursed through Shofco Sacco during the launch of a new Community Resource Centre in Meru County.

The loans attract an interest rate of six per cent, significantly lower than many commercial and mobile lending facilities, and are disbursed within 72 hours of application without requiring guarantors.

Among the beneficiaries is Nicholas Kirimi, who runs a salon business and also engages in farming. He said the financing would help him expand his operations and create additional employment opportunities.

"The loan has come at the right time for my business. I plan to buy more equipment and improve the salon to attract more customers. I currently employ two young people and hope to hire two more as the business grows," he said.

Kirimi noted that limited access to affordable credit remains a major challenge for many young entrepreneurs seeking to grow their businesses.

Another beneficiary, Winnie Mwenda from Tigania West, said the funds would help her expand her hotel business and increase its capacity.

"This support will enable me to renovate and grow my business. As it expands, I expect to create more job opportunities for young people in the community," she said.

In addition to the individual loans, three community-based organisations received cash grants to support income-generating projects, particularly those targeting young women and young mothers.

Mercy Mwiti, a member of Favour Young Ladies CBO, said the funding would support smart farming projects on land allocated at the SHOFCO Centre in Buuri.

"The initiative will help young women and young mothers acquire skills and earn a sustainable income," she said.

The newly opened Community Resource Centre includes a library, community hall, computer laboratory and facilities for women's empowerment programmes and digital skills training.

Meru Governor Isaac Mutuma welcomed the initiative, saying partnerships between the county government and development organisations play an important role in addressing social and economic challenges.

He said the centre and the support extended to entrepreneurs and community groups would contribute to job creation and poverty reduction, particularly among young people and women.

The governor also urged beneficiaries to make productive use of the resources and opportunities provided.

SHOFCO Chief Executive Officer Dr. Kennedy Odede said the organisation's programmes are aimed at improving livelihoods by supporting economic empowerment and skills development.

He said investments in young people and women have the potential to create jobs and strengthen communities, adding that the new centre would provide residents with access to learning opportunities and other support services.