KCB launches $500 mil­lion fund to sup­port young en­trepreneurs in Kenya

The East African - - MARKETS -

Re­gional lender KCB has an­nounced a Ksh50 bil­lion ($500 mil­lion) fund to boost youth en­trepreneur­ship in the re­gion. Through its so­cial in­vest­ment arm, KCB Foun­da­tion, the lender will use the funds to sup­port en­trepreneurs un­der its youth en­ter­prise flag­ship pro­gramme dubbed En­trepreneurs will re­ceive fund­ing at sin­gle-digit in­ter­est rates un­der the pro­gramme, which aims to sup­port young en­trepreneurs, en­abling them to be­come self-em­ployed and cre­ate em­ploy­ment for other young peo­ple coun­try­wide. “The pur­pose of the fund­ing is to sup­port star­tups and pro­vide work­ing cap­i­tal for ben­e­fi­cia­ries,” said Joshua Oi­gara, KCB group’s chief ex­ec­u­tive.

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