Enterprise Fund

Introduction

The Fund was established through an enactment of the Laikipia County Enterprise Fund Bill into law on 19th June 2014.

It was gazetted through Legal Notice No. 18 10 of 2014.

Amendments to the Act were done on 29th June 2017, and regulations were enacted on 13th March 2018.

Mandate

To create 30,000 employment opportunities in the private sector by 2022 by starting new and expanding existing SMEs across the county, by raising its loan portfolio to the tune of KES 300 million.

Purpose of the Fund

The Fund is intended to:

• Assist micro and small enterprise owners access credit for business capital.

• Promote enterprise development among youth, women, persons with disability, and needy persons.

• Facilitate a favorable environment for appropriate business and entrepreneurial growth.

• Support job creation initiatives.

• Enhance entrepreneurial skills by providing training in enterprise and business development.

• Provide technical assistance in product and market development.

• Promote local economic growth by supporting innovators and developing home-based local industries.

Administration of the Fund

The Fund is managed by a Board, which:

• Approves loans for beneficiaries.

• Oversees strategic management of the Fund.

The Fund Manager is responsible for the day-to-day affairs of the Board.
Ward-level implementation is handled by the Ward Officers (County Development Authority - CDAs) in their respective wards.

Composition of the Board

The Board consists of 8 members, as follows:

1. A Non-Executive Chairperson appointed by the Governor.

2. The Chief Executive Officer, Trade, Tourism and Development.

3. The Chief Executive Officer, Finance.

4. The Chief Executive Officer, Education, Sports, Youth and ICT (representing youth affairs).

5. One person representing persons with disability, nominated by the joint forum of micro and small enterprise organizations of persons with disability.

6. One person representing women, nominated by the joint forum of women micro and small enterprises.

7. One person representing the youth, nominated by the joint forum of micro and small enterprise youth organizations.

8. The Fund Manager, who serves as an ex-officio member and secretary to the Board.