The Government of Kenya, thr
ough the Ministry of Information and Communication
(MoIC), recognizes that the provision of Information and Communication Technology (ICT) goods and services is important for enabling economic and social development by improving communication and facilitating information flow. However, the ICT sector is currently more active in urban areas, resulting in wide regional disparities in the distribution of ICT facilities.
In order to address this disparity, the Kenya ICT Board (KICTB) is supporting the roll out of new “electronic centers” which shall be named Pasha Centers (and are also commonly referred to as Digital Villages). Existing e-centers may also be upgraded. Pasha Centers are hubs that provide a host of services to the public via computers connected to the internet, or by using and marketing other ICT-enabled applications. This work shall be done under the Kenya ICT Program (KICTP) initiative, which has an aim to provide internet access and e-services at the grassroots level via multi-stakeholder partnerships.
As a result of these partnerships, Kenya ICT Board today gave Family Bank a cheque of USD 1.3 Million to start the first round of lending out the revolving fund. A total of 37 applicants have been approved. For this first round, the 37 applicants represent 37 constituencies and 24 counties across Kenya. Family Bank received 689 applications out of a total of 800 inquiries made.
The 37 approved applicants have demonstrated various business ideas within their proposed Pasha centers ranging from; youth training, e-library services, website development, government services facilitation, teacher training, KCPE and KCSE online registrations, software development to name a few.
The revolving fund will be disbursed as a loan by Family Bank, repayable over a three (3) year period with a 3 months grace period, but will have a flexible repayment period and below-market rate of interest – to a maximum of 10.5%. The loan applicant will be required to finance at least 10% of the business while the revolving fund will finance a maximum of 90% of the investment.
The Government of Kenya, through the Ministry of Information and Communication (MoIC), recognizes that the provision of Information and Communication Technology (ICT) goods and services is important for enabling economic and social development by improving communication and facilitating information flow. However, the ICT sector is currently more active in urban areas, resulting in wide regional disparities in the distribution of ICT facilities.
In order to address this disparity, the Kenya ICT Board (KICTB) is supporting the roll out of new “electronic centers” which shall be named Pasha Centers (and are also commonly referred to as Digital Villages). Existing e-centers may also be upgraded. Pasha Centers are hubs that provide a host of services to the public via computers connected to the internet, or by using and marketing other ICT-enabled applications. This work shall be done under the Kenya ICT Program (KICTP) initiative, which has an aim to provide internet access and e-services at the grassroots level via multi-stakeholder partnerships.
As a result of these partnerships, Kenya ICT Board today gave Family Bank a cheque of kshs 108,490,000 to start the first round of lending out the revolving fund. A total of 37 applicants have been approved. For this first round, the 37 applicants represent 37 constituencies and 24 counties across Kenya. Family Bank received 689 applications out of a total of 800 inquiries made.
The 37 approved applicants have demonstrated various business ideas within their proposed Pasha centers ranging from; youth training, e-library services, website development, government services facilitation, teacher training, KCPE and KCSE online registrations, software development to name a few.
The revolving fund will be disbursed as a loan by Family Bank, repayable over a three (3) year period with a 3 months grace period, but will have a flexible repayment period and below-market rate of interest – to a maximum of 10.5%. The loan applicant will be required to finance at least 10% of the business while the revolving fund will finance a maximum of 90% of the investment.
The Government of Kenya, through the Ministry of Information and Communication (MoIC), recognizes that the provision of Information and Communication Technology (ICT) goods and services is important for enabling economic and social development by improving communication and facilitating information flow. However, the ICT sector is currently more active in urban areas, resulting in wide regional disparities in the distribution of ICT facilities.
In order to address this disparity, the Kenya ICT Board (KICTB) is supporting the roll out of new “electronic centers” which shall be named Pasha Centers (and are also commonly referred to as Digital Villages). Existing e-centers may also be upgraded. Pasha Centers are hubs that provide a host of services to the public via computers connected to the internet, or by using and marketing other ICT-enabled applications. This work shall be done under the Kenya ICT Program (KICTP) initiative, which has an aim to provide internet access and e-services at the grassroots level via multi-stakeholder partnerships.
As a result of these partnerships, Kenya ICT Board today gave Family Bank a cheque of kshs 108,490,000 to start the first round of lending out the revolving fund. A total of 37 applicants have been approved. For this first round, the 37 applicants represent 37 constituencies and 24 counties across Kenya. Family Bank received 689 applications out of a total of 800 inquiries made.
The 37 approved applicants have demonstrated various business ideas within their proposed Pasha centers ranging from; youth training, e-library services, website development, government services facilitation, teacher training, KCPE and KCSE online registrations, software development to name a few.
The revolving fund will be disbursed as a loan by Family Bank, repayable over a three (3) year period with a 3 months grace period, but will have a flexible repayment period and below-market rate of interest – to a maximum of 10.5%. The loan applicant will be required to finance at least 10% of the business while the revolving fund will finance a maximum of 90% of the investment.