Kenya ICT Board (KICTB) is inviting applications from entrepreneurs for expansion of Information and Communication Technology Services across Kenya. Entrepreneurs are invited to competitively bid for the opportunity to benefit from the digital villages revolving fund in order to set up or expand an existing centre. During the first round, which was announced in May 2011, a total of thirty-seven entrepreneurs received funds from this scheme. It is expected that the Kenya ICT Board will support at least eighty entrepreneurs during this round. Women, the physically challenged and the youth are strongly encouraged to apply.
About the Program
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. The ICT sector is currently predominately in urban areas, resulting in disparities in the distribution of ICT facilities. In order to address this disparity, KICTB is supporting the roll out of digital villages which have been branded Pasha Centre’s. The digital village project (DVP) is an integral part of an innovative Public Private Partnership (PPP) for taking ICTs to the rural communities in Kenya.
Revolving Fund
The revolving fund is a loan facility that will be used to set-up or scaling up of a centre. The loans will be repayable over a three-year 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 project cost while the revolving fund will finance up to 90% of the project cost. The objective of these loans is to enable prospective entrepreneurs to obtain access to credit which might not be available to them via existing micro–credit systems.
Eligibility Criteria
Applicants’ must meet the following conditions:
– Kenyan Citizen;
– Above 18 years of age;
– Minimum education level- form four graduates.
Last date for submitting the applications is December 3, 2011.
For more information, visit this link.
