As a student in Kenya, there are not many options for borrowing money. This is unless it is particularly related to your education or towards financing a business venture.
The various options for borrowing money for education are:
- HELB: The Higher Education Loans Board is a body that lends students money for their tuition fees.
- Banks: Banks such as Bank of Africa and NIC Bank lend to students with some particular terms and conditions therewith.
- Insurance policies: These allow you to save money and then invest the money in education.
Some of the options that students can finance their businesses include:
- Asset Based Financing: This is offered by banks to fund the purchase of equipment for your business
- Venture Capitalists: These can be accessed through management institutions such as Genghis Capital that have access to investors looking to invest in the East African market.
- The Government: The government offers funds through the ministry of youth into the various counties. Youth can have access to funds through those platforms.
