Editor's Review

The Youth Enterprise Development Fund (YEDF) said it has rolled out the program targeting 21 youth groups across the county.

A section of youth in Kisumu County is set to benefit from a new initiative that will provide them with loans of up to Ksh1 million each to venture into fish cage farming.

In a statement on Thursday, September 11, the Youth Enterprise Development Fund (YEDF) said it has rolled out the program targeting 21 youth groups across the county.

According to the Youth Fund, the initiative is also supported by Aquaculture Barn and the Kenya Commercial Bank (KCB).

"In an effort to strengthen food security and nutrition, the Youth Fund, in collaboration with Aquaculture Barn and KCB, is enrolling 21 youth groups in Kisumu County into fish cage farming," the statement read.

The Youth Fund explained that the initiative is expected to engage about 300 young people directly, with the groups divided into two cohorts.

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"The initiative directly engages about 300 youth, organized into two cohorts. Each cohort, comprising 10–11 groups, accesses up to Ksh1 million in loans to establish fish cages, rear fish, and repay the financing from proceeds after harvest and sale," the statement added.

File image of a Youth Fund official in a meeting with youths in Kisumu County

According to the Youth Fund, the project combines financial support with training and mentorship to ensure sustainability.

"Aquaculture Barn, an innovative hub specializing in fish farmers’ training, leads mentorship and provides continuous technical support to the groups. 

"YEDF facilitates market linkages, ensuring sustainable income generation and integration into the fish value chain," the statement further read.

This comes months after the Youth Fund introduced a new loan product named E-Yes.

In a statement to newsrooms, the state corporation said the loan is available to individuals who are part of a group or a Community-Based Organization (CBO). 

The Youth Fund also said individuals in an investment club or SACCO that has benefited from the Youth Enterprise Development Fund (YEDF) also qualify for the loan. 

With a maximum repayment period of 18 months, the corporation encouraged individuals seeking financial support for startup ventures, business growth, or asset purchases to consider applying for the loan. 

To be eligible, the Youth Fund outlined that applicants are required to submit a comprehensive business plan for starting a formally recognized business.

First-time borrowers aiming to start a business may obtain a maximum loan of Ksh20,000, whereas first-time borrowers with an established business can secure a loan of up to Ksh50,000. 

The corporation also stated that qualified individuals can benefit from a loan graduation system.

The first loan is Ksh50,000 for a maximum of 9 months, while the second loan is Ksh100,000 with a maximum repayment period of 9 months.

In this graduation system, the third and fourth loans are Ksh150,000 and Ksh200,000 for a maximum of 12 months and 18 months respectively.

Additionally, to obtain the loan, it is required that group members jointly guarantee the loan and provide collateral, which may consist of business assets, inventory, livestock, and personal belongings.