Youth Enterprise Fund to be replaced by new Youth Fund focused on innovation and livelihoods
ERICK KYALO -KNA
A newly proposed Youth Fund is set to replace the Youth Enterprise Development Fund if a new bill is enacted into law.
The Youth Fund, which will acquire the assets, liabilities, rights, obligations, and undertakings of the Youth Enterprise Development Fund, aims to provide accessible financial resources to youth for entrepreneurship, innovation, and sustainable livelihood projects.
The fund is also expected to offer grants, loans, and other forms of financial assistance to youth-led enterprises and youth-focused development initiatives.
Additionally, it will support training and capacity-building programs to enhance financial literacy, business management skills, and technical competencies among young people.
To address unemployment among Kenyan youth aged 15 to 34—currently standing at 67 percent—the Youth Bill 2024, which is at the public participation stage, seeks to enhance employment opportunities for unemployed youth through job training, skill development, and career guidance programs.
According to the Kenya Institute for Public Policy Research and Analysis (KIPPRA), approximately 500,000 to 800,000 youth enter the job market each year. However, the economy has been unable to provide sufficient employment opportunities.
The government will also be required to strengthen the links between the labor market, education, and training systems for the youth, while providing safety nets to prevent them from falling into poverty.
George Mbugua, the Director of Youth in charge of Entrepreneurship and Skills Development at the State Department of Youth Affairs and the Creative Economy, stated that the bill would establish a Registrar of Youth to streamline youth activities.
“The Youth Fund is more enhanced and comprehensive. The current one focuses primarily on youth enterprises, but the proposed fund will allow young people to submit proposals and access support in terms of capacity building and resources,” Mbugua said.
“The bill also proposes the creation of a youth registrar. Currently, almost everyone claims to be involved in youth work, which has led to significant disorganization in the sector. This bill will enable us to streamline, organize, and coordinate youth activities,” he added.
Mbugua emphasized the need to address youth idleness by promoting opportunities in the creative sector, enabling young people to earn money through entertainment and online content creation.
“Many of our young people are idle. They need to be engaged in productive economic activities that allow them to earn an income, which will ultimately improve their livelihoods,” he said.