More than 122,000 young entrepreneurs across the country are set to receive a second KSh25,000 grant under the government’s NYOTA programme after authorities confirmed that the funds will be disbursed on June 27.
The announcement comes as a relief to thousands of beneficiaries who had been waiting for the release of the second tranche following delays that sparked concerns among participants.
The State Department for MSMEs Development said 122,147 beneficiaries from all the country’s 1,450 wards will receive the funds, which are aimed at helping young people start and grow businesses.
The second payout follows an earlier disbursement under the programme, which is backed by the World Bank and targets unemployed and vulnerable youth through business financing, skills training and mentorship.
Government officials say the programme has continued to record positive results, with the majority of beneficiaries who received the initial funding already establishing businesses in different sectors of the economy.
The latest disbursement is expected to inject billions of shillings into small businesses across the country at a time when many young entrepreneurs continue to struggle with limited access to affordable credit.
The government had earlier attributed the delay in releasing the funds to adjustments made to accommodate all selected beneficiaries instead of rolling out the programme in phases.
The NYOTA programme has attracted massive interest from young people across the country, with nearly two million applications received during the selection process.
For thousands of beneficiaries, the June 27 payout could provide a much-needed boost as they seek to expand existing ventures or launch new businesses amid a challenging economic environment.
