Deputy President Kithure Kindiki has announced a major government initiative aimed at uplifting youth-owned micro and small enterprises across the country.
Speaking on Thursday, May 22, Kindiki revealed that the government will provide Ksh50,000 working capital to 70 youth-led businesses in each of Kenya’s 1,450 wards.
He explained that the funds will be provided under the Ksh28 billion NYOTA Programme.
“The Government is supporting micro and small enterprises—kinyozi, salon, mama mboga, and other small trading enterprises—by encouraging aggregation into SACCOs and supporting their expansion.
"Through the Ksh28 billion shillings NYOTA Programme, we are providing Ksh50,000 working capital for 70 youth-owned micro and small businesses in all the 1,450 wards of our Country to stimulate their expansion and create jobs and income opportunities for the youth,” he stated.
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This comes a week after Kindiki revealed an ambitious plan to equip all markets across the country with state-of-the-art facilities.
Speaking on Tuesday, May 13, he said the facilities will include cold storage units, internet-connected computer labs and social halls for traders.
"All markets will have cold storage facilities where supplies can be stored, making them fresh until the whole stock is cleared out,” the deputy president stated.
In addition to addressing the preservation of goods, Kindiki also announced plans to foster community engagement and digital literacy among traders.
“All markets will have social halls and boardrooms where traders can have their meetings. All markets will also have computer labs for traders who are computer literate, and they will be connected with the internet,” he added.
