The government, through the Ministry of Cooperatives, has announced plans to roll out a new youth fund programme to empower young Kenyans nationwide.
Appearing before the National Assembly Committee on Trade and Cooperatives, the Ministry briefed the legislators on the project aimed at providing youths with Ksh50,000.
The initiative, known as the National Youth Opportunities Towards Advancement (NYOTA) Project, is set for a national roll-out to benefit 70 youths in each ward across the country.
During the meeting, the Committee received a detailed briefing from officials of the Micro and Small Enterprise Authority (MSEA), who outlined the project’s objectives and its anticipated impact.
The NYOTA project is a scaled-up version of the Kenya Youth Empowerment Program (KYEOP), which seeks to increase youth employment, boost earnings, and promote savings among vulnerable youths.
MSEA Project Coordinator Caroline Kioko, alongside Senior Enterprise Development Officer Evans Ballut, outlined the project's goals, noting that youths will each receive Ksh50,000 to either start or expand their businesses, with a target to reach over 100,000 youths across all 47 counties.
"Beneficiaries will receive a comprehensive package that includes grants, BDS 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 explained.
According to the MSEA Project Coordinator, the Ksh50,000 will be disbursed in two instalments of Ksh25,000 each, primarily aimed at youths with Form Four certificates or lower, including school dropouts.
She added that the project was open to youths aged 18 to 29 years and 18 to 35 years for those with disabilities across all 47 counties.
However, during the session, committee members led by Chairperson Benard Shinali expressed concerns that the amount allocated may not be sufficient to start businesses.
Nonetheless, MSEA officials reassured the committee members, highlighting that many businesses can be started with as little as Ksh1,000.
“There are several businesses that one can begin with Ksh25,000 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 noted.
