Kenyan Youth in 7 Counties to Receive Funding by World Bank
The World Bank is expected to fund youth in Nairobi, Mombasa and Kisumu with Ksh3.6 million each to support their business ideas.
The youth in the three major cities will be the first recipients before moving to other counties of Kiambu, Kwale, Nakuru and Migori.
The Micro and Small Enterprises Authority (MSEA) which is handling the project asked for bids from private consultants to offer the youth mentorship and training in business development and digital content dissemination.
[caption caption="Ministry of Public Service,Youth and Gender Affairs officials at a past meeting-via Facebook"][/caption]
“The youth to benefit from digital delivery of business development services will include those already in business as well as youth interested in starting businesses,” read a notice by the World Bank.
The World Bank’s aim is to promote self-employment among the youth in the country and reduce lack of managerial skills in enterprises.
The Kenya Youth Employment and Opportunities Project (KYEOP) will handle the selection of the young Kenyans through a competition. Interested candidates will be expected to pitch a business idea for a chance to win.
The candidates will be taken through three rounds of vetting before the final decision is made. The amount to be won ranges from Ksh900,000 to Ksh3.6 million.
The cash prize will be a grant meaning that the winners will not be expected to pay back the amount.
“The programme targets young people aged between 18 and 29 years who are without jobs and have experienced extended spells of unemployment, or are currently working in vulnerable jobs,” read a statement by the World Bank about the programme.
[caption caption="World Bank offices -via Facebook"][/caption]
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