The Youth Enterprise Development Fund will launch a mobile app, Y-Mobile in April 2019, Chairman Ronald Osumbo has confirmed.
The platform is meant to provide more assesibility for Kenyans from various parts of the country even as the agency is seeking Kshs 300 Million from the National Treasury.
Osumba says that the app will be very efficient since 80% of loan requests are short-term loans which can be easily issued via the app.
“The demand is high and it is expensive to devolve officers to county and sub-county levels. I would rather have a platform which is accessible to somebody in a remote village,” he said.
Applicants will access personal loans of between Sh5,000 and Sh100,000 via Y-Mobile.
He spoke in Voi, Taita Taveta County during a youth summit on access to financial services.
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