Micro and Small Enterprise Authority (MSEA) officials on Tuesday, April 1, briefed the National Assembly Committee on Trade, Industry, and Cooperatives on a new project that aims to provide Ksh50,000 grants to 70 youths in each ward across the country.
The initiative, which is known as the National Youth Opportunities Towards Advancement (NYOTA), 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, who appeared before the National Assembly Committee on Trade and Cooperatives, outlined the project's goals, noting that the youths will each receive Sh50,000 to either start or expand their businesses.
Kioko emphasized that MSEA, which is the implementing agency for the project, will focus on addressing barriers that limit youth participation in entrepreneurship.
"Beneficiaries will receive a comprehensive package that includes grants, BDS training, and mentorship. Over 100,000 youths with business ideas will benefit from Sh50,000 in startup capital to begin or sustain their businesses," Kioko explained.
Read More
The project targets over 100,000 youths across all 47 counties and aims to empower them through the grants, Business Development Services (BDS) training, and mentorship.
According to Kioko, the Ksh50,000 grant will be disbursed in two instalments of Sh25,000 each.
The new program is primarily aimed at youths with Form Four certificates or lower, including school dropouts.
Kioko also noted that the project is open to youths aged 18 to 29 years, and 18 to 35 years for those with disabilities, across all 47 counties.
The Trade, Industry, and Cooperatives Committee members led by Bernard Shinali, expressed concerns that the amount allocated may not be sufficient to start businesses.
MSEA officials reassured the members, highlighting that many businesses can be started with as little as Ksh1,000.
“There are several businesses that one can begin with Sh25,000 or even less. If you look at what the Hustler Fund offers, it starts from as low as Sh500, which can help a woman buy vegetables at the market to resell,” Kioko added.
