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Tana River County Microfinance Act, 2017 (No. 7 of 2017).

Country/Territory
Kenya
Territorial subdivision
Tana River
Document type
Legislation
Date
2017
Source
FAO, FAOLEX
Original source
Kenya Gazette Supplement No. 10 (Tana River County Acts No. 7).
Long title
An Act of the County Assembly of Tana River to provide for the establishment of a microfinance Corporation and for connected purposes.
Subject
Agricultural & rural development
Keyword
Agricultural development Institution Credit Special fund Poverty Rural employment
Geographical area
Africa, Eastern Africa
Abstract

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.

Full text
English
Website
www.kenyalaw.org