Chief Executive Officer, Women Enterprise Fund (WEF)

Today as we celebrate this year’s International Women’s Day, the government recognizes the important role women play in the socio-economic development of our nation.  In this regard, the government established the Women Enterprise Fund in 2007 to economically empower women.
This is a flag ship project under the social pillar in the Vision 2030 that falls under the Millennium Development Goal number three, on promotion of women empowerment and gender equality.
The main objective of this Fund is to economically empower women by providing them access to affordable credit. The Fund also provides other business support services such as; capacity building for women entrepreneurs, facilitate local and international marketing of goods produced by women, development of decent workspace like markets and linkages between micro, small and medium enterprises and corporates.
Unlike mainstream banks and other financial service providers that demand traditional securities such as title deeds and log books which majority of women do not own, the Fund has flexible collateral requirements that rely on the character of the women borrowers.
This Fund is along term noble intervention that seeks to reduce poverty by presenting opportunities to women to realize their full potential.
Am happy to note that this year’s theme, “equal rights, equal opportunities: progress for all”, is in line with the Fund’s motto, “Empower a Woman, Empower a Family, Empower the nation”. The Fund creates opportunities for women to access financial and non-financial resources to improve their livelihoods.  To date, a total of Kshs.1.05billion has been loaned to over 182,000 women entrepreneurs nationally.
I am appealing to more women to come forward and apply for these subsidized loans from either the constituency level through our district gender officers or from our financial intermediary partners. For long term sustainability of the Fund, it is imperative that all loans be repaid on time.
The government has faith in the integrity of women as faithful borrowers; the onus is thus on them to reciprocate by borrowing responsibly, investing wisely and repaying timely. Women must overcome the fear of loans if they want to transform their lives. To paraphrase what somebody said “those who fear taking risk, do nothing, have nothing and they are nothing”.
As we endeavour to improve the economic status of the women of Kenya, it is imperative that we take cognizance of their numerical power and hence the need to put proper measures in place to ensure proper and sustainable utilization of the Fund, if the rural women in particular is to be integrated into mainstream economy.