President William Samoei Ruto has defended the government’s NYOTA programme, saying the initiative is proving that small amounts of capital can transform the lives of young entrepreneurs and small businesses.
Speaking after reviewing progress under the programme, Ruto said beneficiaries had demonstrated that grants and loans of between KSh25,000 and KSh50,000 were sufficient to start and grow businesses despite criticism from some quarters.
“These are clear testaments of what this programme can do, proving wrong those who dismissed KSh25,000 or KSh50,000 as too small to do anything,” the President said.
In a move aimed at expanding support for beneficiaries, Ruto announced that he had directed the Ministry of Co-operatives and Micro, Small and Medium Enterprises Development to establish a national NYOTA identification mechanism.
According to the President, the system will enable beneficiaries to access government services, incentives and support programmes more seamlessly.
The initiative is expected to create a centralized database of beneficiaries, making it easier for the government to track progress, offer targeted support and improve service delivery to young entrepreneurs across the country.
The NYOTA programme forms part of the Kenya Kwanza administration’s broader strategy of promoting entrepreneurship, job creation and financial inclusion among young people and small businesses.
The government has in recent years increased its focus on micro-enterprises and youth-led businesses, arguing that access to affordable capital remains one of the biggest barriers facing entrepreneurs in the country.