By Jessica Nyaboke
President William Samoei Ruto has officially launched the NYOTA Project Business Start-Up Capital disbursement for the North Rift region amounting to Ksh 235,575,000.
The initiative will benefit 9,423 youth from Uasin Gishu, Elgeyo Marakwet, Nandi, Trans-Nzoia, Turkana, and West Pokot counties.
Each beneficiary will receive an initial disbursement of 25,000.
Ksh 22,000 will be deposited into the Pochi La Biashara Wallet to support business operations, and Ksh 3,000 deposited into the Haba Na Haba savings account under NSSF to reinforce a savings culture among young entrepreneurs.
What Ruto told NYOTA programme beneficiaries
Speaking at the Eldoret Sports club, the Head of State urged the youth to take advantage of the NYOTA Project as “a pilot for transparency and inclusivity,” saying that it gives “every young Kenyan an equal chance through a fully digitised process.”
The NYOTA Project is a flagship initiative for youth empowerment through job creation and enterprise development.
The initiative complements other government interventions, including opportunities under the affordable housing project, labour export, and the digital economy.
North Rift Governors pledged their support to NYOTA beneficiaries, committing to the waiver of business licences and cess charges to lower the cost of doing business.
They also announced that enterprise development funds will be availed to support further capital needs.
During a mentorship session hosted by Susan Mangeni, Principal Secretary, State Department for MSMEs Development, President Ruto shared his personal journey as a hustler in Maili Tisa, Uasin Gishu County, urging the youth to embrace business skills instead of learning for white collar jobs.
The Cabinet Secretary for Cooperatives and MSMEs Development, CPA Wycliffe Oparanya, said the NYOTA is the largest youth job creation exercise in the country.
How were NYOTA Project beneficiaries selected?
He noted that the project ensures fairness by giving “every Kenyan youth an equal chance, with at least 70 beneficiaries reached in each of the 1,450 wards across the country.”
In addition, the Cabinet Secretary for Youth Affairs, Creative Economy and Sports, Salim Mvurya, advised beneficiaries to “invest the business start-up capital wisely,” adding that other project components, including Job Experience and Recognition of Prior Learning, will commence immediately after the completion of the business Support component.
Echoing his sentiments Marianne Keitany, Vice Chair of the Trade and Cooperatives Committee in the National Assembly, highlighted the ongoing consideration of the Start-Up Bill in Parliament.
She noted that the Bill will create a more conducive environment for MSMEs by mainstreaming access to business development services, providing for licence waivers, and establishing a clear framework for capital flows to MSMEs.
