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12 INVESTMENT NEWS

tor, Gregory Smith, known locally as Kiptabut, from his habit of entering kitchen granaries to look for excess food for public distribution. He was distressed to see local people going hungry or dying during one particular period of food shortage in the 1930sthat he went across the entire breadth and length of Kericho personally entering the kitchen stores to see if there was millet stored there. Wherever he found some, he would take it out and give it out to the needy It was from this that in 1949, Kiptabut decided to organize Africans in the first ever coop-

A street in Kericho town today

erative in Kericho, Kipsigis Traders Savings and Credit Cooperative Society, -which still stands— so that they could access stock for their businesses at factory prices. Kipsigis traders spread opening new shopping centres and

markets. And although the spirit of trading ebbed out somewhat after the exit of these early entrepreneurs, there is no doubt about the contribution they made in opening up the County to concepts of business.

Jitegemee Enterprise Fund. There is a growing number of people wanting to start and run businesses in Kericho County. There is therefore a need for a variety of product and service providers such as financial and information institutions to assist the business community. The demand was demonstrated when the County asked for applications from people who wanted small loans for business under a County programme called

The County had allocated Shs 100 million to the Fund. But the applicants were 13,000 applicants raising the demand to Shs6 billion. Following this, the County is working to revive dormant saccos to increase sources of funds. We are also encouraging businesspeople to join existing saccos and benefit from loans provided under their microcredit sections

Investment News July - August 2016  

Investment News Kenya, Investment News, Kericho investment opportunities guide, agribusiness opportunities in Kericho

Investment News July - August 2016  

Investment News Kenya, Investment News, Kericho investment opportunities guide, agribusiness opportunities in Kericho

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