President William Ruto is scheduled to officially open the second phase of the National Youth Opportunities Towards Advancement (NYOTA) Project today in Eldoret as the government continues to take measures to empower the young population.
The launch, slated to take place at the Eldoret Sports Club, shall also be a fund distribution forum for the young people who have managed to qualify for the initiative. For most of them, this shall be the platform where they officially initiate transforming their business ideas into reality.
According to the Ministry of Cooperatives, a total of 50,000 young people shall receive Ksh. 22,000, which shall be paid to their NYOTA wallets. Another Ksh.3,000 shall also be paid into every beneficiary’s National Social Security Fund NSSF savings account. This is geared at instilling good saving culture practices from a young age.
The disbursement of the money is to be done in a number of counties. These include; Uasin Gishu, Elgeyo Marakwet, Nandi, Trans Nzoia, Turkana, and West Pokot. According to the officials, this is a strategic approach that is aimed at benefiting the people in a transparent and efficient manner.
Similar NYOTA programs will be held in Nakuru on January 9 and January 12, targeting beneficiaries from Nakuru, Narok, Bomet, Kericho, Baringo, Laikipia, Isiolo, and Samburu counties.
The NYOTA initiative is part of the broader youth empowerment initiative by the Kenyan government. This is because it seeks to solve issues of unemployment created in Kenya by supporting financial inclusion and self-reliance among Kenyan youths.
The initiative is beneficial to Kenyan youths since it involves providing them with financial assistance as well as encouraging them to save.
Authorities have indicated that the second phase benefits from the experiences gathered during the first launch and aims to target more young people who are keen to start or expand their business endeavors.
