By KPC Reporter
Thousands of young entrepreneurs in Machakos, Makueni and Kitui counties have received a financial boost after the government disbursed KSh147.5 million under the NYOTA Project to support youth-led businesses.
President William Ruto on Thursday launched the business start-up capital programme in Machakos County, with 5,901 youth benefiting from the first phase of the disbursement.
Each beneficiary will receive KSh25,000 to either start a new enterprise or expand an existing one.
Under the programme’s structure, KSh22,000 is deposited directly into Pochi la Biashara to cater for day-to-day business operations, while KSh3,000 is saved under the Haba na Haba savings scheme managed by the National Social Security Fund (NSSF).
A second phase will see beneficiaries receive an additional KSh25,000, bringing the total NYOTA start-up capital to KSh50,000 per youth.
Speaking during the launch, President Ruto said the NYOTA Project was designed to widen access to capital for young people and promote inclusive economic growth.
He noted that the initiative targets all 1,450 wards across the country, with between 70 and 84 young people per ward expected to benefit from the business support grants.
The President also pointed to ongoing investments in modern markets, Special Economic Zones, and County Aggregation and Industrial Parks as part of efforts to create supportive environments where small businesses can grow and access larger markets.
Deputy President Prof. Kithure Kindiki highlighted the role of micro, small and medium enterprises (MSMEs) in job creation, describing the sector as a key driver of Kenya’s economic transformation and a major source of employment for young people.
Cooperatives and MSMEs Development Cabinet Secretary Dr Wycliffe Oparanya urged beneficiaries to use the funds responsibly and take advantage of other government financing and enterprise support programmes, including the Hustler Fund and Kenya Industrial Estates.
On her part, Principal Secretary for MSME Development Susan Mang’eni said the support would go beyond disbursement, revealing plans for a mentorship programme to link NYOTA beneficiaries with experienced entrepreneurs and local business networks.
Leaders from Machakos, Makueni and Kitui counties who attended the event welcomed the initiative, saying it would help address youth unemployment and stimulate grassroots economic activity.
They pledged to support complementary skills development programmes to ensure the sustainability of youth-owned enterprises.