Over 8 million Kenyans working in the informal sector will have access to affordable loans as well as basic training in entrepreneurship.
Equity, co-op and k-rep banks have received 600 million shillings from the government to loan to sme’s. The money is part of 3.8 billion shilling revolving fund for youth employment and growth of sme’s.
The banks are expected to add 5 shillings into the fund for every 1 shilling from the government. Finance Minister Uhuru Kenya has urged the banks to lend at affordable rates to enable more Kenyans access the funds.
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