Safaricom Foundation Establishes a Startup Fund for Young Kenyan Entrepreneurs

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Safaricom Foundation, has just launched a startup fund to help young Kenyan entrepreneurs raise seed capital, Disrupt Africa reports.

Safaricom has dedicated $135,000 (Sh14 mn) for the pilot phase, Joseph Ogutu, Safaricom’s chairman said in the report, which will be rolled out in Nairobi, Nakuru, Homabay, Busia and Kajido counties.

Ogutu stated further that the foundation is seeking partnerships with innovation hubs in order to boost training and funding capacity for the entrepreneurs.

“We are in discussions with the other hubs because the foundation does not have the capacity to do the training,” Joseph said in the report. “We are looking at how we can work with i-Lab and i-Hub in order to nurture more business ideas.”

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