BUTULA: Butula MP Joseph Oyula has called on women and youth investment groups to maintain financial discipline to secure more funding and grants and enhance their investment capabilities. He emphasized the importance of planning and financial literacy as he distributed Uwezo fund cheques totaling Sh2.3 million to 15 qualifying groups.
According to Kenya News Agency, Oyula highlighted the need for business groups and individuals seeking loans from financial institutions to have clear plans and disciplined financial records to attract further funding from both government and private institutions. He pointed out that Butula constituency had been blacklisted for three years from accessing the Uwezo fund due to default by 64 groups, impacting the constituency’s creditworthiness.
Oyula urged the community to form groups with members who share similar ideological backgrounds and are committed to undergoing financial training. This, he said, would help them acquire essential skills in planning, budgeting, and savi
ng, crucial for the success of any investment group.
Butula DCC John Kirui echoed Oyula’s sentiments, advising the fund recipients to use their loans wisely for the intended purposes to uplift their socio-economic status and create more employment opportunities. He warned against the misuse of funds on non-essential ventures, which could lead to loan repayment challenges.
Jenifer Oketch, Chairperson of the Uwezo Fund, emphasized the importance of timely loan repayment to improve members’ credit status and the potential for additional funding. She urged members to remain transparent and accountable in their financial dealings.
