President William Ruto has directed government financing institutions to develop a dedicated funding product for National Youth Opportunities Towards Advancement (NYOTA) beneficiaries whose businesses require additional capital to expand.
The President said the NYOTA Growth Product, to be developed by the Youth Enterprise Development Fund, Uwezo Fund, Women Enterprise Fund, Kenya Industrial Estates and other agencies, will provide young entrepreneurs with access to bigger financing, equipment and market opportunities after the initial start-up grant.
Ruto issued the directive on Friday during the launch of the second tranche disbursement of the NYOTA Start-Up Capital Programme at the Ulinzi Sports Complex in Nairobi.
“The first grant should never become the last opportunity. As businesses grow, they need larger financing, better equipment, wider markets, and stronger partnerships,” he said.
The President noted that the government has a responsibility to ensure enterprises supported through NYOTA continue growing after receiving initial capital.
During the event, 88,934 young entrepreneurs who successfully invested the first tranche of Ksh25,000 received an additional Ksh25,000, bringing their total support under the programme to Ksh50,000.
Another 33,269 young Kenyans received their first tranche, bringing the total number of beneficiaries receiving support in the latest disbursement to 122,203 across all 47 counties.
Ruto described the programme as a key driver of youth employment through entrepreneurship in various sectors including, tailoring, poultry farming, livestock trading, retail and mobile phone repairs after receiving the initial Ksh25,000 support.
He reaffirmed the government’s commitment to begin the second intake of the NYOTA Programme in the second quarter of the financial year.
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