The COVID-19 pandemic disrupted business operations in Kenya as in other parts of the world.
For Ms. Josphine Jerop, a hotelier in Kinango sub-county, Kwale County her hotel business was shut down. The profit she had made before the shutdown is what she survived on until the normal return. Upon resuming after covid restrictions were lifted there were still fears of contracting the disease through places of gathering such as hotels thus making it hard for her to make a profit.
Ms. Jerop hopes were revived after she learned about the existence of Jasiri Fund: a microfinance project through a friend.
After being listed as the beneficiary of the Jasiri Fund, Ms. Jerop was able to acquire a loan of Ksh. 300, 000 which she used to boost her business by renovating the hotel, buying kitchen wares and more seats.
“I shared my proposal on how I intend to use the loan and luckily enough I was able to get a loan of Ksh. 300, 000 which I used in doing some renovations at the hotel and purchased more kitchen wares.
After acquiring the loan, she has noticed a big change in her business and hopes to build a guest house where her customers can get somewhere to rest after taking their meals.
“I am looking forward to building a guest house here because many of my customers usually ask for a place to spend their night. I hope when I acquire my next loan I will build the guest houses,” she said.
Ms. Jerop calls on other women in business to embrace the art of acquiring and paying loans if they want to be successful in their businesses. She further lauds the stakeholders in Jasiri Fund for coming to the aid of many women like her by creating an affordable and accessible financial service.
“When you look at Jasiri Fund, it is not similar to other loans – this loan does not require collateral and the interest is quite low. Basically, it suits us women in business,” explained Jerop. With support from Mastercard Foundation, CCGD has facilitated affordable financial services to women such as Ms. Josphine Jerop through Jasiri Fund. CCGD is currently implementing the program in Kwale, Kajiado and Busia Counties. As of December 2022, a total of 278 women and youth (young women) and Persons with Disabilities (PWDs) with existing businesses had received loans worth Ksh. 15, 115, 875. CCGD partners with CREAW and GROOTS Kenya who implement the project in 6 other counties
