By Treezer Michelle Atieno
Nairobi County has introduced the Biashara Fund, an initiative designed to elevate Small and Medium Enterprises (SMEs). Unveiled on the 10th of November, 2023, this program promises single-digit interest loans and a commitment to transparent processes.
Speaking at a Stakeholders consultative breakfast meeting at the Panari Hotel, Ms. Zipporah Mwangi, the County Chief Officer for Business and Hustler Opportunities, passionately shared the vision behind the Biashara Fund. “Once the Biashara Fund is established, it will unlock entrepreneurial potential and break down barriers to capital, ensuring that every entrepreneur, regardless of background, has the chance to turn their vision into a thriving business,” she declared.
“The Fund will also be transparent in the application and disbursement process, hence creating a level playing field for all.” she added.
According to Zipporah, the Biashara Fund is positioned not just as a financial initiative. “The Fund will transcend sectors, celebrating the diversity of local businesses and ensuring sustainable growth through education and mentorship programs.”
Mr. Kepha Omanga, the Director of Donor Coordination and Stakeholder Engagement, shared insights at the same event. “Looking at resources available from our partners as per our dialogue today, we are excited with where the Fund is headed, and we call upon our partners to pitch proposals on areas they intend to partner on for us as a County to be able to do the same,” he said.
By inviting partners to contribute proposals, the Biashara Fund recognizes the value of collective input and diverse perspectives in shaping the economic landscape of Nairobi County.
The combination of financial support, transparency, inclusivity, and collaborative partnerships positions the Fund as a potential initiative for SMEs.
One of the primary ways in which the Biashara Fund can assist youths is by providing them with access to capital, business development support and job creation.
The Biashara Fund is a catalyst for youth empowerment and economic development in Nairobi County, offering a platform for young individuals to pursue their entrepreneurial aspirations and contribute to the local economy.
