The government, through the Ministry of Cooperatives, has announced plans to launch a new youth fund aimed at empowering young Kenyans across the country.
The initiative, called the National Youth Opportunities Towards Advancement (NYOTA) Project, will provide Sh50,000 to selected youths to help them start or expand their businesses.
Appearing before the National Assembly Committee on Trade and Cooperatives, officials from the Micro and Small Enterprise Authority (MSEA) outlined the project’s objectives, emphasizing its role in increasing youth employment, boosting incomes, and promoting savings among vulnerable groups.
MSEA Project Coordinator Caroline Kioko, alongside Senior Enterprise Development Officer Evans Ballut, explained that the programme will be rolled out nationally, benefiting 70 youths in each ward across all 47 counties. In total, over 100,000 young entrepreneurs are expected to receive support.
“Beneficiaries will receive a comprehensive package that includes grants, business development services training, and mentorship. Over 100,000 youths with business ideas will benefit from Ksh50,000 in startup capital to begin or sustain their businesses,” Kioko said.
The Sh50,000 grant will be given in two instalments of Sh25,000 each and will primarily target young people with Form Four certificates or lower, including school dropouts. The programme is open to youths aged 18 to 29 years, while those with disabilities can apply up to the age of 35.
However, some lawmakers raised concerns about whether Sh50,000 would be enough to start a viable business. Committee Chairperson Benard Shinali questioned the adequacy of the funds, arguing that the amount might not be sufficient for long-term business sustainability.
In response, MSEA officials defended the initiative, noting that many small businesses can start with minimal capital.
“There are several businesses that one can begin with Sh25,000 or even less. If you look at what the Hustler Fund offers, it starts from as low as Ksh500, which can help a woman buy vegetables at the market to resell,” Kioko explained.
The NYOTA Project builds on the success of the Kenya Youth Empowerment Program (KYEOP) and is expected to provide a significant boost to young entrepreneurs, particularly those from disadvantaged backgrounds.
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