Nairobi, June 17 -- Hostels developer, Acorn Holdings Limited has launched a scheme to fund students' rent payments and start-up capital for businesses.

The scheme, known as Zinduka Graduate Enterprise Programme, is a partnership with Absa Bank Kenya Plc and Co-operative Bank Group and will enable students to gain access to affordable accommodation via unsecured housing loans and start-up capital.

The programme is expected to support between 5,000 and 10,000 new enterprises annually, with eligible graduates accessing business loans ranging from Sh200,000 to Sh500,000.

Kenya has approximately 500,000 students enrolled in universities, but fewer than 40,000 university-provided beds, leaving 460,000 students in informal, unregulated makes...