Nakuru: When Nakuru Governor Susan Kihika launched the Wezesha Fund, her vision was to empower small businesses, youth, women, and grassroots groups with affordable loans to strengthen the county’s economy.
According to Kenya News Agency, for Stella Nyambura Mureu, the Organising Secretary of the Nakuru Salons, Barbers and Beauty Association, that vision quickly became a reality, as one week after the fund’s launch, Stella’s group was among the first beneficiaries. Stella says that they were called and asked to visit the bank for modalities. “KCB called us to complete the application process and soon after, the money was credited to our account,” she recalls.
The Wezesha Fund offers a fresh start to small-scale traders who, for years, have relied on expensive and often exploitative loans. Unlike traditional bank loans that charge high monthly interest rates and other unconventional money lenders whose rates are beyond reach, the Wezesha Fund’s interest is a one-time charge, making it a reliable and sustain
able option for many. Stella says that through Wezesha, young entrepreneurs could now have fair access to financing. The Fund is capitalised at Sh100 million and primarily targets SMEs, farmers, and boda-boda riders.
Loans will be offered at 8 per cent interest rate for enterprises, while cooperatives will be charged at 6 per cent. The County has already disbursed close to 40 million shillings, with other groups still being processed. The County’s goal is to boost its economy by providing access to affordable capital for businesses and fostering economic growth in the initiative that is being undertaken in collaboration with KCB and other partners.
Stella says that they have brought together over 400 beauticians, hairdressers, barbers, masseuses, and other beauty professionals, organised under welfare, project, charity, and table banking groups. The table banking group alone has over 100 active members who now access loans within the group at low interest, therefore strengthening financial independence. Mem
bers not only enjoy financial empowerment but also social support during challenges.
Through the county government’s empowerment programmes, the group has received vital equipment and tools of trade, which would have been difficult for individual traders to acquire on their own. “When you join us, you also benefit from welfare support, especially during times of illness or grief,” Stella says, noting that many members have also taken up SHA health registration to further safeguard their well-being.
The funds came at a crucial time, enabling members to pay school fees, rent, and other pressing personal and business expenses. “Our members got the money they needed. This has brought significant relief to our businesses and families,” she says. The group are now working towards formalising the establishment of a Sacco, a move that will allow them to access even larger funds in future.
County Executive for Trade, Stephen Kuria, assured the traders of the County support towards their financial empowerment. He ur
ged them to organise themselves into groups and formalise their Sacco registration as they stood to achieve more as well as access more opportunities.
While addressing a community empowerment forum on Wezesha Funds, County Chief Officer for Cooperatives Mr Kibet Kurgat urged residents to take advantage of available resources to boost their financial bases. He noted that approximately Sh32 million from the Enterprise Revolving Fund was yet to be disbursed and called upon residents to take advantage of the loan opportunities, saying they were meant to ease their financial struggles. He also took the attendees through the loan eligibility criteria.
The Chief Officer indicated that those who repay their loans faithfully would qualify for larger amounts and therefore grow their financial ratings as days go by. He emphasised the need to repay the loans that are a revolving fund to enable many more people to benefit. He assured the community that once approved, loans would be disbursed promptly to support enterpri
se growth.
“The Governor has promised to increase our funding if we are well organised, and so we are working towards that,” Stella adds. Stella, who has been in the beauty industry for over a decade, encourages others to pursue the trade. “Hairdressing is a good business. It requires hard work and consistency, but the rewards are many,” she says.
Like many small traders, Stella’s group occasionally faces operational challenges such as the need to keep licenses up to date to avoid disruptions. The group remains committed to working closely with county officials to ensure full compliance. Stella’s story is a testament to how county-led empowerment programmes are opening new doors for small businesses in Nakuru. As her group looks to the future, the Wezesha Fund continues to transform lives-one loan, one business, and one empowered community at a time.