Ministry of Youth Affairs, Creative Economy and Sports has announced plans to roll out the first phase of the National Youth Opportunities Towards Advancement (NYOTA).
In a statement dated Wednesday, December 11, the Ministry led by CS Kipchumba Murkomen revealed that 100,000 youth with business ideas would receive financial support to help them set up their ventures.
Through collaboration with the World Bank, youth selected for the programme will receive Ksh50,000 each.
Consequently, in readiness for the rollout, Murkomen met with officials from the World Bank.
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"Spearheaded by the Government of Kenya in collaboration with the World Bank, the project represents a significant commitment to tackling youth unemployment and addressing skills mismatches," read the statement in part.
"NYOTA aims to equip Kenyan youth with critical skills and resources to secure meaningful employment and foster entrepreneurship. Among its key highlights, 100,000 youth with viable business ideas will receive Sh50,000 each in start-up capital to launch or grow their ventures."
Additionally, the Ministry noted that the programme would be extended to help more youth who are unemployed in the country.
As detailed in the plan, the government aims to help 820,000 unemployed youth across the country.
"The program’s first intake is expected to open soon, offering an opportunity for young Kenyans to harness their potential and contribute to the country’s economic growth. The Ministry remains steadfast in its mission to empower youth and build a brighter, more inclusive future," the Ministry added.
