The Mombasa County Government has officially begun implementing the Mombasa County Revolving Fund Act, 2026, following the swearing-in of the fund's inaugural board by Governor Abdullswamad Shariff Nassir.
The revolving fund is expected to provide affordable financing to entrepreneurs, cooperatives, youth, women, persons with disabilities and small businesses in an effort to spur enterprise development and promote inclusive economic growth.
Governor Nassir said the initiative is intended to remove financial barriers that continue to limit the growth of many local enterprises.
"Economic transformation begins when people with good ideas have access to the capital they need to grow. We are moving with urgency to operationalize this Fund so that businesses can access financing, create jobs and expand opportunities across Mombasa," he said.
He described the inauguration of the board as an important milestone in the county's economic empowerment agenda.
The board is chaired by Samuel Omondi Okech, while Munira Hamisi serves as Chief Executive Officer. Other members are Elizabeth Sonia Michael, Abduswamad Noor, Hamza Kombo, Hamisi Kurichwa and Swaleh Mwalizuma.
Kombo, who represents the youth on the board, said the fund would prioritize special interest groups, including young people, women, persons with disabilities and small businesses, while ensuring fair access for all eligible applicants.
"The fund belongs to the people. Our responsibility is to ensure every eligible resident has an equal opportunity to benefit from it, regardless of their political affiliation, gender or background," he said.
He added that the board's first task would be to develop operational guidelines, including loan repayment terms, while engaging stakeholders to ensure the programme meets the needs of residents.
Kombo also said the board plans to incorporate financial literacy training to help beneficiaries manage the loans responsibly and grow viable businesses.
Meanwhile , youth leaders have urged young people to seize the opportunity once applications open.
"Young people should take advantage of this opportunity by applying for the fund and investing in businesses that will create lasting livelihoods. These resources should be used to build a better future," said youth leader Zuhura Ali.
Hassan Mbangwe Athman also called for transparency in the implementation of the programme, saying the fund should benefit the intended groups without political interference.
"We want to see the money reach young people, women and persons with disabilities. This fund should transform lives and not become a political tool," he said.
