{"id":138588,"date":"2025-03-22T20:37:00","date_gmt":"2025-03-22T20:37:00","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/cs-oparanya-reveals-plans-to-merge-uwezo-youth-women-enterprise-funds-to-curb-default-misuse"},"modified":"2025-03-22T20:37:00","modified_gmt":"2025-03-22T20:37:00","slug":"cs-oparanya-reveals-plans-to-merge-uwezo-youth-women-enterprise-funds-to-curb-default-misuse","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/cs-oparanya-reveals-plans-to-merge-uwezo-youth-women-enterprise-funds-to-curb-default-misuse","title":{"rendered":"CS Oparanya Reveals Plans to Merge Uwezo, Youth & Women Enterprise Funds to Curb Default & Misuse"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Cooperatives Cabinet Secretary Wycliffe Oparanya has announced the government\u2019s intention to merge state-owned financial institutions that provide loans into a single entity.<\/p>\n

Speaking in Khwisero, Kakamega County, on Friday, March 21, Oparanya disclosed the government\u2019s plan to merge Uwezo, Youth, and Women Enterprise Funds into a single entity known as the Biashara Fund. This means these funds will be joining President William Ruto’s flagship the HustlerFund.<\/p>\n

Oparanya, while addressing the residents, stated that the move was aimed at streamlining access to financing for small businesses and eliminating loopholes that led to misuse of the three funds.<\/p>\n

The CS noted that the new strategy would also enhance efficiency, ensure fair resource allocation, and curb incidents where an individual unfairly benefits from multiple loan allocations.<\/p>\n

While emphasising the matter, Oparanya said that the Biashara Fund would end the menace witnessed in the past where women and youths unlawfully took advantage of the fragmented funds to the disadvantage of others.<\/p>\n

\u201cThere are people who take Youth Fund while they are young; they then proceed to take another loan from Uwezo Fund, now the government has decided to put all these funds together,\u201d Oparanya stated.<\/p>\n

\u201cVery soon, the Uwezo Fund, Youth Fund, and Women Enterprise Fund will all be consolidated into Biashara Fund to help all Kenyans,\u201d he added.<\/p>\n

According to the former Kakamega Governor, by merging the three funds, the government also aims to reduce the rate of loan default among Kenyans.<\/p>\n

However, the Hustler Fund, which is also a type of government loan, has been part of the Biashara Fund, providing credit to small businesses and individuals who have no collateral or formal banking history.<\/p>\n

Nonetheless, reports indicate that a significant portion of Hustler Fund borrowers are defaulting, with non-performing loans recently hitting up to 21 per cent.<\/p>\n

With more than half of Hustler Fund borrowers defaulting on their loans, the government has been continuously exploring viable methods of recovering the loans.<\/p>\n

To mitigate the rate of default, the government recently introduced a Bridge Loan program to reward responsible borrowers and provide a pathway for defaulters to improve their credit status.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Cooperatives Cabinet Secretary Wycliffe Oparanya has announced the government\u2019s intention to merge state-owned financial institutions that provide loans into a single entity. Speaking in Khwisero, Kakamega County, on Friday, March 21, Oparanya disclosed the government\u2019s plan to merge Uwezo, Youth, and Women Enterprise Funds into a single entity known as the Biashara […]<\/p>\n","protected":false},"author":84,"featured_media":138587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[6857,7003,544],"class_list":["post-138588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nCS Oparanya Reveals Plans to Merge Uwezo, Youth & Women Enterprise Funds to Curb Default & Misuse - kenya<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/cs-oparanya-reveals-plans-to-merge-uwezo-youth-women-enterprise-funds-to-curb-default-misuse\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CS Oparanya Reveals Plans to Merge Uwezo, Youth & Women Enterprise Funds to Curb Default & Misuse\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Kenya. 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