The Nakuru County Government recently operationalised the Nakuru County Cooperative Development Revolving Fund (CDRF), a key financial initiative aimed at supporting cooperative societies and boosting local entrepreneurship. The fund, launched under the broader Wezesha Fund on 29th May 2025, is intended to enhance household incomes and improve access to affordable credit for cooperative enterprises across Nakuru County.
The CDRF is anchored in the Nakuru Cooperative Revolving Development Fund Act, 2019 and is designed to provide low-interest loans to the county’s over 500 registered cooperatives. These include 101 farmer cooperatives, 333 Savings and Credit Cooperative Societies (SACCOs), and 72 housing and investment cooperatives.
Speaking during the fund’s rollout, Governor Susan Kihika emphasised the role of cooperatives in the county’s economic framework.
“Our administration remains focused on creating a conducive environment for cooperatives to grow, access markets, and contribute meaningfully to job creation and value addition,” she stated.
Governor Susan Kihika and David Nyamu the KCB General Manager, Public sector & Sovereign Banking during the launch of CDRF
Affordable Loans for Cooperative Growth
Under the CDRF, cooperatives can access loans ranging from KSh 200,000 to KSh 5 million at an annual interest rate of 6%. For the 2024/2025 financial year, the county allocated KSh 50 million to the fund, with an additional KSh 50 million directed toward the Enterprise Fund, both of which operate under the Wezesha Fund umbrella.
Loan administration and disbursement are being handled through a partnership with Kenya Commercial Bank (KCB), which also oversees the vetting of loan applications. So far, six cooperatives have received loans totalling KSh 21 million, with more applications currently under review. Funds repaid by beneficiaries will be reinvested, ensuring the fund’s sustainability.
Suka Farmers Cooperative from Subukia receives a 5 million cheque under the Cooperative Development Revolving Fund
Eligibility Criteria
To qualify for funding, cooperatives must meet the following requirements:
- Valid registration certificate
- Latest audited financial report
- Minutes from a recent Annual General Meeting (AGM)
- Documentation showing borrowing authority
- A viable business proposal
- Active bank account statements
These conditions aim to safeguard the integrity of the fund and ensure it supports credible, community-focused initiatives.
Driving Socioeconomic Transformation
The CDRF is part of the county’s broader economic strategy focused on:
- Supporting cooperatives to expand operations and participate in high-value markets
- Enabling value addition and bulk marketing of agricultural produce
- Enhancing food security through improved access to inputs and post-harvest support
- Promoting employment, particularly among youth and women
In addition to financing, the program includes training, mentorship, and business incubation, all of which are implemented in collaboration with KCB. Cooperative members are being supported in areas such as financial management, business planning, and market access.
Complementary Enterprise Fund
The CDRF collaborates with the Nakuru County Enterprise Fund, which provides loans ranging from KSh 50,000 to KSh 200,000 at an interest rate of 8% to registered self-help groups. Together, the two funds broaden the scope of accessible credit for both cooperative and grassroots-level entrepreneurs. The two funds are known as the Wezesha Fund.
Beneficiaries of Wezesha Fund in Nakuru County
Future Outlook
Governor Kihika’s administration views the CDRF as a key enabler of economic resilience and sectoral recovery, particularly in the agricultural sector. The fund also provides a platform for collaboration with donors, private investors, and financial institutions, creating opportunities for co-financing and grant-based support.
“The CDRF reflects our commitment to inclusive development and economic empowerment,” Governor Kihika noted. “Through this initiative, we aim to strengthen the cooperative movement and ensure more residents can participate meaningfully in the county’s growth.”
Interested cooperatives can contact the County Directorate of Cooperatives or visit the nearest KCB bank for more information on application procedures and eligibility.