Photo/FILE Internal Security permanent secretary Francis Kimemia (right) and Administration Police commandant Kinuthia Mbugua at the Administration Police Training centre March 30,2011. Mr Kimemia has directed police to arrest fraudsters seeking registration fees from Micro and Small Enterprises (MSE) fund beneficiaries.
By NATION CORRESPONDENT
Posted Monday, July 4 2011 at 17:54
Posted Monday, July 4 2011 at 17:54
The government has warned Kenyans not to pay bribes to access a Sh3.8 billion credit facility being given through local banks.
A group of people claiming to be officials of the “Financial Inclusion Committee of Nairobi” Treasury have been fraudulently trying to recruit people to access the fund.
Internal Security Permanent Secretary, Francis Kimemia directed the police to arrest fraudsters seeking registration fees from Micro and Small Enterprises (MSE) fund beneficiaries.
“It should be noted that Treasury has not allowed any collections from the public to access the funds,” he said.
According to Treasury sources, fraudsters have been collecting between Sh100 to Sh1,000 as registration fees.
About 15.3 million Kenyans are set to benefit from a credit fund being channelled through Co-operative, Equity and K-Rep banks.
Of the beneficiaries, 8.3 million people are in the informal sector, two million in the jua kali industry while five million are kiosk owners, hawkers and vegetable vendors.
The three banks have received about Sh750 million to give out limited loans at eight per cent interest.
Under the fund which was established on March 14, 2011 by Deputy Prime Minister and Minister for Finance Uhuru Kenyatta, 15 million people with registered MSEs will access credit to expand their businesses and increase the use of innovative delivery channels like m-banking.
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