Safaricom Foundation Pledges $8.4 million to youth development in Kenya.
18th Aug 2014 And still talking numbers and business in Africa, Safaricom Foundation, a foundation of Safaricom limited, a leading mobile network operator in Kenya, has pledged $8.4 million to youth development in Kenya.
Having observed that up to one million people enter the Kenyan labour market per year, Safaricom Limited saw the need to turn Kenyan youths into job creators rather than job seekers. Hence Safaricom Foundation has offered to give microloan facility to the tune of $2.8 million per year during the course of 3 year investment plan.
The foundation is particular about giving microloans to these youths rather than grants, so that they are motivated and challenged with the responsibility of paying it back.