The Government has today disbursed KShs 3.06 billion under the second tranche of the National Youth Opportunities Towards Advancement (NYOTA) Business Support Programme, benefiting over 122,000 young entrepreneurs across the country with KSh 25,000 each to scale up their enterprises
Speaking in Nairobi, President William Ruto said the NYOTA Programme is transforming young Kenyans from job seekers into job creators by equipping them with startup capital, business development training, mentorship and financial inclusion opportunities. He urged beneficiaries to invest the funds prudently, expand their enterprises and create employment opportunities within their communities He said the programme is empowering young people to establish, grow and sustain businesses while creating employment opportunities across the country.
To ensure that youth-owned enterprises continue to grow beyond the initial grants, President Ruto directed the Youth Enterprise Development Fund, Women Enterprise Fund and Kenya Industrial Estates (KIE) to develop innovative financing products and business support interventions that will provide young entrepreneurs with affordable capital and technical assistance to scale up their businesses
The President also called on county governments to support youth-owned enterprises by exempting young entrepreneurs from excessive business levies and licensing charges, noting that reducing the cost of doing business would enable startups to grow, create jobs and contribute more effectively to local economic development.
The President reiterated that youth empowerment remains a central pillar of the Bottom-Up Economic Transformation Agenda (BETA) and affirmed the Government’s commitment to investing in entrepreneurship, skills development, access to finance and market opportunities to unlock the full potential of Kenya’s young people.