Family Bank to fund digital villages

By FREDRICK OBURAFamily Bank on Friday received Sh110M from the Government to help finance rural ICT projects across the country.Through the revolving fund supervised by Kenya ICT Board, the bank is expected to issue cheaper loans to entrepreneurs to help fast track the implementation of digital villages."The fund is intended to enable individuals obtain access to affordable credit which might not be available to them via existing micro-credit systems," said ICT Board Chief Executive Officer Paul Kukubo."The kitty would also help speed up implementation of digital villages as a way to increase access to ICT across Kenya."Family Bank said it had approved 37 entrepreneurs from 37 constituencies and 24 counties for the loan.Family Bank Relationship Officer Kevin Kihara said the bank had received 689 applications out of 800 enquiries made."The applicants have demonstrated various business ideas within the proposed rural ICT centres ranging from youth training, e-library, website development, government facilitation among other services," he said.New micro-enterprisesDigital villages enhance the livelihoods of citizens and encourage new micro-enterprises by providing access to information, education and markets.There are currently five Pasha Pilot centres in Kangundo, Garissa, Malindi, Mukuru and Meru."Several years after talk of rolling out digital villages in the country started, the projects have not taken off due to delays in financing by the donor — World Bank," said Ndemo.Last year, the Government asked the telecommunication operators to help roll out the villages as a way of meeting the universal access Fund obligation. Safaricom, Telkom Kenya, Zain Kenya and Essar are required to roll out digital villages as the Government implements part of the Kenya Communication Amendment Act 2009, which stipulates that the Communication Commission of Kenya levies a universal access Fund of one per cent on total revenue.

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Family Bank to fund digital villages

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