Hundreds of residents in Bungoma have benefited from low-interest loans from Pride Africa community limited as a way of cushioning them against adverse Coronavirus effects.
Addressing residents in Kimilili constituency, Bungoma county, the organization CEO Peter Mwibanda said that he started the organization after realizing the increasing poverty that is taking toll on the residents during this Covid-19 pandemic.
“We started this group as a way of helping improve the living standards of locals by pulling risks to help young people run businesses. The organization provides soft loans using group members as guarantees.”
Mr. Mwibanda mentioned that people fear taking loans due to high-interest rates and others may lack the security that is required.
However, he says the process of acquiring a loan in his organization involves just a little paperwork.
He appreciated partner members for supporting the initiative especially Car and General motors for providing motorbikes for youths in the group.
Further, he encouraged the residents to join the group, promising that the group is ready to accommodate more members as it’s sourcing more partners.
Margaret Wekesa, a beneficiary of Pride Africa did not hide her gratitude, saying that her business is thriving due to soft loans provided by the group.
“I am excited that Pride Africa gave me a motorbike at a low interest rate and it’s providing easy transport for my produce to markets.”
On the other hand, MCA aspirant for Kimilili Township ward, Kevin Mutambi, promised to work with such groups in order to empower youths in the region.
“I thank Pride Africa for the initiative as it is helping in improving the livelihood of our people. I am willing to partner with the group for the good of our economy.” He said.
Mr. Mutambi encouraged other political leaders to focus on empowering citizens.