The government has disbursed the second tranche of funding under the National Youth Opportunities Towards Advancement (NYOTA) Programme, releasing more than KSh3 billion to support youth-led enterprises across the country.
Public Health and Professional Standards Principal Secretary Mary Muthoni Muriuki said the funds will benefit 88,934 young entrepreneurs as part of efforts to expand youth businesses, create jobs and promote economic inclusion.
Speaking during the disbursement exercise, Muthoni said the programme is aimed at equipping young people with the financial support and entrepreneurial skills needed to build sustainable enterprises.
In the Murang’a, Nyeri and Kirinyaga cluster, the government released KSh176.375 million to support 7,055 beneficiaries drawn from the three counties.
Besides receiving financial support, the beneficiaries will also undergo business and entrepreneurship training to strengthen the sustainability and growth of their enterprises.
The government further announced measures aimed at easing the cost of doing business for young entrepreneurs, including a two-year tax waiver for all NYOTA beneficiaries.
Other interventions include the establishment of a National NYOTA Identification system to facilitate access to government services and incentives, as well as the creation of a pathway to help beneficiaries transition from start-ups into sustainable businesses.