uwezo fund kenya- Requirements, application forms, website, interest rates, offices, FAQs, contacts.
Uwezo Fund Kenya is a flagship programme for vision 2030 which is aimed at enabling women, youth and persons with disability to access finances so as to promote businesses and enterprises at the constituency level, thereby enhancing economic growth towards the realization of the same and the Millennium Development Goals. Uwezo Fund Kenya was launched by His Excellency the President of the Republic of Kenya on 8th September 2013.
Eligibility Criteria uwezo fund kenya.
Applicants shall qualify for Fund loan application if
(a) uwezo fund kenya For a group
-The group must be registered with the department of social services, Cooperatives or the Registrar of Societies.
-The group members must be aged between 18 and 35 years whereas the women’s groups shall be made up of women aged eighteen years and above.
-The group must be based and operational at the constituency it seeks to make an application for consideration.
-The group must be Operating a table banking structure or any other group fund structure where members make monthly contributions according to the groups’ internal guidelines (evidence of monthly contributions shall be a requirement).
-Hold a bank account in the name of the group.
(b) uwezo fund kenya For an institution
-Is a registered entity
-Has listed youth and women groups within it.
uwezo fund kenya: How to apply
-Ensure that you meet the eligibility criteria above
-Fill in an application form (available from the Constituency Uwezo Fund Management Committee office, CDF Offices or download form from http://www.uwezo.go.ke/download-form
-Submit the application form together with relevantdocuments to the Constituency Uwezo Fund Management Committee office.
-Await notification from the committee
uwezo fund kenya: Eligible Amount
(a) For administration of the Fund:-
The access by eligible groups of the Fund, shall be on a first come first served basis, subject to assessment and approval of the loan, provided that the Committee shall ensure equitable distribution of funds in the wards.
Eligible qualifying amounts for a group shall be a minimum of fifty thousand 50,000) and a maximum of five hundred thousand (500,000) shillings at any one time.
(b) In determining the total amount a group is eligible to receive, the following criteria
shall be applied:-
-The length of time the group has been in existence
-The total amount contributed by the group
-The current status of contribution and
-The proposed business plan for the loan applied
The eligible amount shall be three times the group savings BUT it shall not be:-
-Below Kshs. 50,000 (Minimum),
-More than the amount applied for in the application form and
-More than Kshs. 500,000 (Maximum)
uwezo fund kenya: FAQs
How does one apply for the uwezo fund kenya.
After you ensure that you have met the eligibility criteria, get an application form from your local CDF office, fill the form and return it to the CDF office along with all the requirements.
Is there a deadline for the uwezo fund kenya application
There is no deadline, as it is a revolving fund.
What is the interest incurred on the loan
The uwezo fund kenya loan does not attract interest
What is the repayment period for uwezo fund kenya
Six months grace period and two years from the expiry of the grace period
For how long should the group have been in existence for it to qualify for the uwezo fund kenya.
There is no minimum required period of group existence as long as the group is practicing table banking and has evidence of monthly contribution.
Can I apply for the Fund as an individual
No, the uwezo fund kenya is only accessible to groups
How long does it take for the groups to get their funding after submission of the application
The groups will get funding after vetting of their applications has been done by CUFMCs, and after they have been trained on four focus areas i.e. General Information on Uwezo Fund; Business Development Services and Mentoring; Table Banking Concept; and Access to Government Procurement Opportunities for youth, women and PWDs.
What is the difference between the uwezo fund kenya and the Youth Fund
uwezo fund kenya:
-Is guided by Public Finance Management (uwezo fund kenya) Regulation, 2014
-Trains before receiving the funds is done
-Has no interest
-Operates table banking
-Links the beneficiaries to 30% access to government procurement opportunity
-Offers mentorship progammes to the fund beneficiaries
Why do applicants need to visit CDF Offices for uwezo fund kenya
To collect and return the application forms and to be provided with whatever information on the Fund that the applicant may need or request for.
What about people who are above 35 years but in a youth group
Youth groups with members above 35 years are eligible for uwezo fund kenya loan as long as the group is 70% youth and those above 35years of age make up 30%, Leadership must be 100% youth.
uwezo fund kenya Contact Info
Lonrho House, 16th Floor, Standard St.
P. O. Box 42009 – 00100, Nairobi