Committee seeks release of Uwezo fund to youth
14 July 2014, 09:23
Nairobi - Constituency Committees have been directed to fast track the submission of the list of groups that qualified for Uwezo youth funds in order to facilitate the release of the revolving fund without hindrance.
The Uwezo Fund Chief Executive Officer, Wilfred Buyema ordered the committees to immediately forward the approved applications.
It argued that it was unfair to withhold them simply because some groups in the lot failed to meet the prerequisite criteria.
“The committees must submit the vetted forms to facilitate the release of funds and must not wait for other groups at the expense of those who met the requirements and were ready to roll out their investment proposals,” he said.
Buyema gave the directive during a sensitization exercise in Meru County about the regulation governing access to the KES 6 billion fund after groups expressed concern over the delay in the release of the soft loan.
He also allayed fears that groups without substantial amount of cash in the bank were not eligible for funding and set records straight that the requirement was set to facilitate financial transaction between successful applicants and the funding committees.
The executive said the vetting committees were interested in the records of the groups rather than the cash in the accounts since under the table banking concept money was lent out to members.
– CAJ News
For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!