This Act establishes the Tana River County Microfinance Corporation as a body corporate and defines its functions, powers and internal organization. The purpose of this Act is to provide for the establishment of a microfinance institution for providing financial services to women and youth in order to promote local business and investment growth; enhance access to capital and credit and financial services to small and medium enterprises; reduce poverty and unemployment; promote local economic growth. The Act also sets out rules regarding microfinancing and the principles that shall underlie such financing. The Corporation shall ensure that the interest rates chargeable on loans are affordable to the small and medium enterprises.
Кения · 2017-06-19