Govt unveils Sh5b youth startup fund, beneficiaries to receive Sh50k each
The programme, a partnership between the government and the World Bank will support 100,000 young people across the country, with 70 beneficiaries drawn from each of Kenya’s 1,450 wards.
The government has set the ball rolling for the National Youth Opportunities Towards Advancement (NYOTA) programme, a Sh5 billion initiative aimed at supporting young people with start-up capital, training, and mentorship.
Speaking at State House, Nairobi, yesterday during a meeting with Principal Secretaries, President Ruto explained that a whole-of-government approach will ensure smooth, transparent, and inclusive implementation. “This is coming as a result of being deliberate about doing something about employment, empowerment, and engagement with young people,” he said.
The President noted that NYOTA is part of a broader agenda to create meaningful opportunities for young people. Alongside affordable housing, labour mobility and digital jobs, NYOTA will empower the next generation drivers of innovation and expand enterprise.
Micro, Small and Medium Enterprises (MSME) PS Susan Mang’eni said the project is designed to improve the livelihoods of vulnerable youth.
The programme, a partnership between the government and the World Bank will support 100,000 young people across the country, with 70 beneficiaries drawn from each of Kenya’s 1,450 wards.
The programme targets young people aged between 18 and 29 years, and up to 35 years for people with disabilities.
Each successful applicant will receive a Sh50,000 grant to kick-start entrepreneurial ventures, creating opportunities in business and enterprise. Additionally, 90,000 youth will receive job experience training, 20,000 youth will be trained on recognition of prior learning, and 600,000 youth will benefit from training on Access to Government Procurement Opportunities (AGPO).
The project has generated overwhelming interest, attracting over 1.4 million applications for the business support component. 180,000 applicants have been shortlisted and are currently undertaking an online aptitude test before final selection,
The first of the eight clusters entrepreneurship will cover Kakamega, Vihiga, Bungoma, and Busia counties. Once training is complete, the beneficiaries will receive their start-up capital in phases and continue receiving hands-on support from business development experts as they establish and grow their businesses.