Mayungu High Vision Win Stanbic Grant

Mayungu High Vision was formed 2017 and registered 2018 as a self-help group. It has 8 members, all female, and the group is involved in fisheries value chain, from fish capture, to selling fresh fish and other sea products, processing value added products from fish to the ready market in Mayungu town. The group’s purpose is to help eradicate poverty, empower women and create job opportunities to youth and entire community. The group applied for the USADF/Stanbic bank 5 million shillings grant with the aim of upscaling their business.

The grant is aimed at local businesses and MSMEs across Kenya with the aim of expanding their business, their capabilities and address the gaps in their systems. The grant had a set of requirements that had to be met in order for the business/ MSME to be awarded with the amount. Mayungu High Vision met these requirements and were able to secure the maximum amount possible due to their ability to demonstrate all the requirements.

Grant Application and Consideration

Mayungu High Vision learned of the grant during a routine M&E visit by USADF, who had previously given them a loan. They developed an indepth plan, exhausting all the possible gaps together with a well laid out plan on how to handle the same and proceeded to make the application.

Their application was considered for the second round of the drafting process where the group’s chair, Ms. Mishi, represented Mayungu High Vision in Nairobi, ultimately getting the grant.

We are grateful for Ustadi Foundation and the invaluable resource it has been to us. We look forward to establishing ourselves even further and with God’s grace, venture into other sectors of business for the good of our youth and women

Ms. Mishi

Reasons for Application

The group had a reassuring vision and an exceptional blueprint behind their application for the grant. A more than g satisfactory approach towards the breakdown of funds use aided with a detailed budget aided the group in clinching the grant.

The groups’ overall aim is for job creation, for both the youth and women through its integrated activities. The following are a brief description of the reasons behind their application:

  1. Purchasing a boat. The group will acquire a boat to expand their fishing capacities. This will create job opportunities for the youth in the area, from fishing to distribution of fish. Their will also be opportunities along the chain through boat repairs a nd maintenance.
  2. The group aims to establish an office from which their operations and other formal meetings will be run.
  3. The group also aims to register itself as a company in the near future to broaden its reach and opportunities.

Future plans

Mayungu High Vision aims to live up to its name. The group envisions a brighter and better future for the community, especially youth and women through empowerment. The following are the plans the group has hatched to further push for the agenda of development of the community;

  1. Investing in their childrens education. The group aims to educate their children and those from the community to higher levels of learning while also teaching them the ins and outs of business to equip them with all rounded skills.
  2. Investing in housing as a different entity in creation of additional income for the group. The group looks forward to investing in flats in the future to better hedge their profits

Key Takeaways

Mayungu was awarded its grant in a celebratory event held at Norfolk Hotel, Nairobi on the 20th of July, 2022. Ms. Mishi’s main takeaway was that focus should be key in their business endeavors.