Enterprise Fund Bill Signed
Governor Ndiritu Muriithi has signed into law the Laikipia County Enterprise Fund (Amendment)Bill 2018 that is seeking to increase the fund from Sh50 million to Sh300 million for the next one and a half years.
While signing the document, Muriithi noted that it will improve governance of the fund and improve the processes of appraisal.
Last week, the county assembly passed the bill that had been brought by Trade, Tourism and Enterprise Development committee chairperson Stephen Kamau.
It sought to amend the Laikipia County Enterprise Fund Act 2014 to emphasize the object of the fund to support micro and small enterprises in the region by providing affordable credit and loan facilities.
The bill provides for remuneration and board members to be set by salaries and remuneration commission. It also sets the loan security conditions.
Present during the ceremony was deputy governor John Mwaniki, Trade, Tourism and Enterprise Development CECM Nicholas Biwott, county assembly speaker Patrick Waigwa, assembly clerk Jasper Mutwiri among others.
The assembly has also passed motion calling on the executive to set Sh20million annual fund to support youths who come up with innovative projects.
The governor said part of the increased enterprise kitty would go towards supporting innovators in a bid to develop home based local industries.
