About the project
Safaricom Foundation invested Kshs.20Million in 2015 in a pilot project meant to educate and train communities to save as well as provide them with credit from which they can start income generating businesses. Seven counties benefitted from the pilot project. These were Mombasa, Machakos, Nairobi, Busia, Bomet, Migori and Homabay.
In Mombasa, Safaricom Foundation and Junior Achievement Kenya (JA) partnered to offer support to start-ups through Biz up fund with an aim to provide seed funding to the youth. The purpose was to offer support for establishment of micro and small scale social enterprises that have social impact and create jobs.
There has been increased access to entrepreneurship education and financial literacy for Kenyans. Over 100,000 beneficiaries have received funding of between Kshs. 10,000 –Kshs.100, 000 with a repayment plan after which they can borrow some more and create a trustworthy credit base in which they can get bigger loans from financial institutions. Suleiman Ali is a beneficiary. He runs a successful bakery in Likoni and also offers baking lessons at a subsidised cost. At the same time, he trains young men in conflict with the law at Shimo Borstal Institute how to bake.