Kenyan Government To Offer Between Sh50,000-Sh3 Million For Business To Individual Youth.

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Young Kenyans With D+ To Get Sh50,000-Sh3 Million For Business

The government will in two months’ time start phase eight of disbursing funds to young people under the Kenya Youth Employment Opportunities Project (KYEOP).

Trade Principal Secretary Amb. Johnson Weru says the programme targets more than 7,000 youth with viable investment ideas across the country.
Under the programme, Mr Weru said beneficiaries will get between Ksh50,000 and Ksh3 million to help them establish income generating projects, in an effort to create jobs for thousands of young people.

The PS, who was speaking at Gatanga Constituency Industrial Development Centre (CIDC) at Kiunyu market, explained that those targeted are from four leavers who scored grade D+ and failed to join college. “The money will be given without discrimination provided the applicants meet set requirements. One must have scored D+ in KCSE and did not join college or university,” said the PS.
He urged those who meet the requirements to apply when it is rolled out. “This will be the eighth cycle to give out the funds. We did cycle one to seven and the programme will continue as the government aims to financially support young people to venture in projects that create employment,” he added.

The PS said the government through Medium and Small Enterprise Authority (MSEA) has started to equip CIDC in efforts to promote production of quality products, which can access regional and international markets.

There are 158 CIDCs and 100 worksites countrywide, which are managed by registered associations with Weru challenging the groups to take advantage of issued equipment to produce quality products.

The PS noted that Kenya had signed a trade pact with the United Kingdom that allows traders to export their products to the European country duty or quota-free.

“We recently commissioned the Economic Partnership Agreement Council for a trade pact with the UK. This now gives our traders opportunities to export their products to the UK duty free provided the products meet set requirements,” he added.

Speaking during the same occasion, MSEA Chief Executive Officer Henry Rithaa encouraged small scale manufacturers to register with the Registrar of MSEA to benefit from opportunities availed by the government.

He said they have over 10,000 associations that have registered over the last three months and target to register more than 6,000 manufacturing associations by the end of the year. “By June this year we are targeting 5 million medium and small scale entrepreneurs and more than 10 million by the close of the year,” said Rithaa.

The CEO encouraged young entrepreneurs to form groups to easily access government tenders and markets for their products. (KNA)

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