Ronnie Osumba. [Photo/the-star.co.ke]The Youth Fund is set to launch a mobile phone application to enable its customers borrow money from wherever they are across the country.
Through the app, young people will be evaluated based on their loan requests and good records will allow them to gradually increase the amount they can borrow. Available data shows the fund, started 10 years ago to offer loans to small-scale businesses, has lent out Sh11 billion to one million youth.
Youth Enterprise Development Fund (YEDF) Chairman Ronnie Osumba has said that through the digital disbursement, they expect to reach more youth.
“We have many young people who cannot access our facilities because of their locations and with the mobile app we will have evened the ground for about 14 million people aged between 18 and 35 across the country,”Osumba is quoted by Standard.
The fund has also radically re-engineered its loans to make them easily accessible and responsive to its target customers’ needs. Relaxed requirements