Uwezo Fund Description
The Uwezo Fund is a flagship programme for vision 2030 aimed at enabling women, youth and persons with disability access finances to promote businesses and enterprises at the constituency level, thereby enhancing economic growth towards the realization of the same and the Millennium Development Goals No.1 (eradicate extreme poverty and hunger) and 3 (promote gender equality and empower women). The Fund was launched by His Excellency the President of the Republic of Kenya on 8th September 2013 and enacted through a Legal Notice No. 21 of the Public Finance Management Act, 2014, and published on 21st February, 2014.
The Fund seeks to expand access to finances and promote women, youth and persons living with disability led enterprises at the constituency level. It also provides mentorship opportunities to enable the beneficiaries take advantage of the 30% government procurement preference through its Capacity Building Programme. Uwezo Fund, therefore, is an avenue for incubating enterprises, catalyzing innovation, promoting industry, creating employment, and growing the economy.
Objectives of Uwezo Fund
The objective for which the Fund was established are:
- To expand access to finances in promotion of youth and women businesses and enterprises at the constituency level for economic growth towards the realization of the goals of Vision 2030
- To generate gainful self- employment for the youth and women
- To model an alternative framework in funding community driven development.
Guiding Principlesof The Uwezo Fund
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The guiding principles of Uwezo Fund are:
Representation: to ensure the inclusion of all eligible Kenyans including women, youth and persons with disabilities. Elected parliamentary representatives and respective government officials must be involved in the fund management and administration to ensure transparency and equity.
Accountability: to ensure government is held responsible to the citizenry for its decisions and actions.
Accessibility: guaranteeing accessibility at the lowest level of engagement and for the largest category of recipients using a simple, structured and least cost approach.
Economy: use of the best but least cost mechanism to achieve the desired objectives.