How Laikipia Economic Stimulus Package Will Work

To facilitate access and utilization of the Kshs. 2 billion from KCB and Kshs 300 million from Co-op Bank, we have embarked on training of our business development officers.
We started off with 33 officers who will in turn train other 200 officers.
Their main task will be guidance and hand-holding traders through the process to access the funds- the process, advising them on how to apply, the requirements and also making follow-ups until enterprises stand on their feet.
Many businesses in Laikipia have approached Nanyuki KCB branch and even opened bank accounts with KCB Bank in readiness for the loans.
Our target is 5,000 businesses in Laikipia, spread across the 15 wards. Roughly, we have over 20,000 registered businesses in Laikipia. Melting Kshs 2.3 billion into the economy will not only rejuvenate formal businesses, but will trickle down to the smallest traders like Mama Mbogas and even to jamaa wa mahindi choma to formalize their businesses too.
The end game is to enable our Medium and Small Enterprises to stay afloat by providing them with capital, a subsidized loan that will be favourable and cognizant of the prevailing economic strains.
It will mean, people will have purchasing power.
For instance, a hardware operator has his business booming, he will need to repair his car, the mechanic will be ready for him. The hardware guy and the mechanic can now buy vegetables and fruits from the market or at kibanda next to their home.
With the loan, the farmer will expand. She will need an extra person on her farm. Another business person had his construction stuck. With the money available now, he will bring back his workers to complete the project. That worker can buy unga and sukari at their nearest shop.
If we utilize these funds this with utmost financial discipline, and we will ensure that, our businesses will stand and even thrive in the post-COVID-19 era.
We keep moving forward, but a step at a time.

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