The Youth Enterprise Development Fund is seeking Kshs 300 Million from the National Treasury to launch a mobile app, Y-Mobile in April 2019, according to its Chairman Ronald Osumbo.
Osumba says that the app will be very efficient since 80% of loan requests are short-term loans which can be easily issued via the app.
“The demand is high and it is expensive to devolve officers to county and sub-county levels. I would rather have a platform which is accessible to somebody in a remote village,” he said.
Applicants will access personal loans of between Sh5,000 and Sh100,000 via Y-Mobile.