President William Ruto has ordered a two-year waiver of business permits for all National Youth Opportunities Towards Advancement (NYOTA) Project beneficiaries.
Speaking on Friday, July 10, during the disbursement of the second tranche of NYOTA funds at Ulinzi Sports Complex in Nairobi, President Ruto directed the Intergovernmental Budget and Economic Council (IBEC) and county governments to implement the business permit waiver.
The Head of State argued that young businesses deserve an opportunity to find their feet before they bear the full cost of compliance.
“Having seen what these young entrepreneurs have achieved with modest support, the government of Kenya now has a responsibility to remove the barriers that still stand in their way. Success should never be constrained by unnecessary bureaucracy.
“I therefore direct the Intergovernmental Budget and Economic Council, working together with county governments, to develop and implement a two-year business permit waiver for all the NYOTA beneficiaries,” Ruto directed.
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The President also directed the Ministry of Cooperatives and MSMES Development to establish a mechanism to identify NYOTA beneficiaries.
“I further direct the Ministry of Cooperatives and MSMES Development to establish a national NYOTA identification mechanism so that every beneficiary can seamlessly access government services, incentives and opportunities designed to support enterprise growth,” he stated.
Further, President Ruto directed government financing institutions to establish a dedicated NYOTA growth product.
The institutions include the Youth Enterprise Development Fund, Uwezo Fund and Women Enterprise Fund.
“The first grant must never become the last opportunity; as business grows, they require larger financing, better equipment, wider market and stronger partnerships,” Ruto added.
The directives come after NYOTA announced the launch of its second phase, under which Ksh3.06 billion will be invested in 122,203 young entrepreneurs.
The funding will support 33,269 first-time beneficiaries receiving business grants and 88,934 existing beneficiaries receiving a second tranche to expand their enterprises.
The project became effective on June 21, 2024, and is scheduled to run until December 31, 2028.
In the first phase, NYOTA beneficiaries received Ksh22,000 each to support their business, and Ksh3,000 was deposited as savings under NSSF’s Haba Haba Scheme.
