A new youth fund initiative will be launched by the government through the Ministry of Cooperatives to empower young Kenyans all around the country.
When the Ministry appeared before the National Assembly Committee on Trade and Cooperatives, it informed the lawmakers about the project that will give Ksh50,000 to young people.
The program, called the National Youth Opportunities Towards Advancement (NYOTA) Project, would be implemented nationwide to assist 70 young people in every ward.
Officials from the Micro and Small Enterprise Authority (MSEA) gave the Committee a thorough briefing during the meeting, outlining the goals of the initiative and its expected effects.
The Kenya Youth Empowerment Program (KYEOP), which aims to enhance youth employment, boost earnings, and encourage savings among underprivileged adolescents, is expanded into the NYOTA project.
Senior Enterprise Development Officer Evans Ballut and MSEA initiative Coordinator Caroline Kioko described the objectives of the initiative, stating that over 100,000 youngsters in all 47 counties are to be reached and that each youth will receive Ksh50,000 to launch or grow their enterprises.
The Ksh50,000 will be distributed in two installments of Ksh25,000 each, especially targeting teenagers with Form Four certificates or less, including school dropouts, according to the MSEA Project Coordinator.
She went on to say that the project was available to young people with impairments in all 47 counties who were between the ages of 18 and 29 and 18 and 35.
Nonetheless, committee members, under the direction of Chairperson Benard Shinali, voiced worries at the meeting that the funds might not be enough to launch enterprises.
The committee members were reassured by MSEA representatives, however, who pointed out that many firms may be launched with as little as Ksh1,000.
