The Micro and Small Enterprises Authority (MSEA) has cautioned the public against a fake online advertisement claiming that applications for the Nyota Project are currently open.
In a notice on Friday, July 24, the authority dismissed the advert as false, stating that there is no ongoing application process for the Nyota Project.
"Fake news alert! Be informed, we have no such ongoing application for the NYOTA project," MSEA said.
The fake advertisement, which has been circulating online and on social media, claims that Kenyans can apply for the programme through a website.
It also promises loans ranging from Ksh1,500 to Ksh50,000, accompanied by a 'Click Here to Apply' button.
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This comes over a week after Micro, Small and Medium Enterprises (MSMEs) Principal Secretary Susan Mang’eni explained why some of the National Youth Opportunities Towards Advancement (NYOTA) Project beneficiaries received Ksh19,000 instead of the Ksh22,000 in the second tranche of funding.
Speaking on Saturday, July 11, she said that those who received reduced disbursement had withdrawn all their savings under the programme.
"There were questions yesterday: Why did I receive Ksh19,000 and not Ksh22,000? The reason why some of them, about 33,000, received Ksh19,000 is that they withdrew all their savings and the project is not yet completed, so you are supposed to lock down," she explained.
Mang'eni noted that the affected beneficiaries were netted off in the second tranche, and the funds were moved into savings.
She mentioned that the savings were established under the NYOTA project to provide a financial safety net for businesses against unexpected challenges.
According to Mang’eni, beneficiaries who save money under the project will receive a matching grant from the government at a 2:1 ratio once the project is completed.
"The project has provided an amount that will enable NSSF through Haba Haba. If you save, let's say Ksh3,000, after the end of the project, you start saving for the long term, you also receive a matching grant at the ratio of 2:1," she stated.
Further, Mange’ni said the affected beneficiaries were notified in advance they would receive a lower second disbursement after withdrawing all their savings.
"We communicated to them two days before; we sent them messages and told them we can see that you withdrew all your savings, so you will receive less," she concluded.
