ETSABLISHMENT

The Cooperative Enterprise Development Fund (CEDF) was established by the County Government of Busia through an Act of the County Assembly of Busia, THE COOPERATIVE ENTERPRISE DEVELOPMENT FUND ACT, 2014. The Fund started its operations in July 2014 after being officially launched by H.E. the Governor on 13^th June, 2014

MANDATE

The mandate of the Fund as provided for in the Act is to provide affordable (low interest) loans to cooperative institutions in Busia County, with a view to support cooperatives to scale up their lending activities, value addition, promote entrepreneurship and enhance production and productivity.

Specifically the Fund provides funds to:

1. Support, revive and initiate cooperative societies.
2. Attract and facilitate investments in cooperatives that have linkages to micro, small and medium enterprises that benefit the youth.
3. Attract and facilitate investments in cooperatives that have linkages to low income persons, community-based organizations, and women groups.
4. Facilitate cooperatives to market their products and/or services in both domestic and international markets.

MANAGEMENT

The Cooperative Fund is administered by the Cooperative Enterprise Development Fund Unit headed by a Director (Fund Administrator), an accountant and loan officers and other staff. The main functions of the Unit are:

1. To receive and evaluate loan applications
2. To conduct education and create awareness and understanding about the operations of the Fund to stakeholders.
3. To advise and provide capacity building to cooperative institutions regarding efficient and effective use of borrowed funds.
4. To assist cooperative sector institutions identify, prioritize select, appraise/evaluate, design and negotiate investment opportunities
5. Generally provide TECHNICAL, FINANCIAL AND LEGAL expertise to the beneficiaries of the Fund

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