× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Safaricom Foundation launches fund for ‘high-risk entrepreneurs’ in Kenya

By Standard Reporter | Aug 13th 2015 | 1 min read
By Standard Reporter | August 13th 2015

Safaricom Foundation has launched a revolving fund targeting Kenyans with no access to micro-credit. The fund will be managed by two NGOs, Junior Achievement Kenya and Hand in Hand Eastern Africa, who will grow it into a revolving fund. They will train beneficiaries on entrepreneurship and business literacy, governance and savings, after which they will be eligible for micro loans.

“Many young people who wish to start small and medium enterprises lack the capital to do so, and unfortunately, financial institutions classify them as high-risk borrowers,” said Joseph Ogutu, the chairman of the Safaricom Foundation during the launch of the fund.

“We believe that through this revolving fund, we will significantly contribute to the reduction of unemployment... we are looking forward to supporting young people who have exciting ideas but nobody is willing to finance them.”

Application forms are available on the Safaricom Foundation website, and the partners’ offices and websites.

Share this story
Kenya's Diani Grand Reef Beach Resort & Spa bets on conferencing to boost tourist numbers
delegates, which would make it one of the largest in the Coast region, before the end of the year.
China rejected Kenya's request for Sh32.8b debt moratorium
China is Kenya’s largest bilateral lender with an outstanding debt of Sh692 billion.