President William Ruto on Thursday launched the disbursement of Sh235.6 million under the NYOTA Project to support youth-led businesses across six counties in the North Rift region.
The funding will benefit 9,423 young entrepreneurs from Uasin Gishu, Elgeyo Marakwet, Nandi, Trans Nzoia, Turkana and West Pokot counties.
Each beneficiary will receive Sh25,000 in start-up capital, with Sh22,000 deposited into a Pochi La Biashara wallet to support business operations, and Sh3,000 channelled into an NSSF Haba Na Haba savings account to promote a savings culture among youth.
Speaking at the launch in Eldoret, President Ruto described the NYOTA Project as a model of transparency and inclusivity, noting that the fully digitised process ensures equal access for all eligible young people.
He said the initiative is a key pillar of the government’s broader youth empowerment agenda focused on job creation and enterprise development.
“The NYOTA Project gives every young Kenyan an equal chance to access start-up capital and build sustainable businesses,” the President said.The project complements other government programmes aimed at expanding economic opportunities for the youth, including the affordable housing programme, labour export initiatives and the digital economy strategy.
Governors from the six beneficiary counties pledged to support the initiative by waiving business licence fees and cess charges for NYOTA beneficiaries to reduce the cost of doing business. They also committed to availing additional enterprise development funds to help scale up successful ventures.
During a mentorship session moderated by Principal Secretary for MSMEs Development Susan Mangeni, President Ruto shared his personal journey from humble beginnings in Maili Tisa, Uasin Gishu County, encouraging young people to remain resilient and to take advantage of existing government financing options such as the Hustler Fund, Uwezo Fund and support from the Micro and Small Enterprises Authority (MSEA).
The Cabinet Secretary for Cooperatives and MSMEs Development, Wycliffe Oparanya, lauded the initiative, describing it as the largest youth job creation programme in the country’s history. He said the project is designed to ensure equity, with at least 70 beneficiaries targeted in each of the country’s 1,450 wards.
Youth Affairs, Creative Economy and Sports Cabinet Secretary Salim Mvurya urged beneficiaries to use the funds prudently, noting that additional components of the NYOTA Project, including job experience placements and recognition of prior learning, will be rolled out after the business support phase.
Meanwhile, National Assembly Trade and Cooperatives Committee Vice Chairperson Marianne Keitany said Parliament is considering the Start-Up Bill, which aims to create a more enabling environment for micro, small and medium enterprises.
She noted that the proposed law would streamline access to business development services, provide for licence waivers and establish a clearer framework for financing MSMEs.
