In a significant move to bolster small-scale enterprises, the Kenyan government has allocated Sh28 billion under the National Youth Opportunities Towards Advancement (NYOTA) program. This initiative aims to provide financial support to 70 businesses in each of the country’s 1,450 wards, with each selected enterprise receiving a grant of Sh50,000 to enhance their operations.
Deputy President Kithure Kindiki emphasized the transformative potential of the NYOTA program, stating that even a modest grant can significantly impact businesses with limited capital. He highlighted the government’s commitment to grassroots economic development and urged citizens to focus on service delivery and development initiatives.
The NYOTA program, a five-year initiative funded in part by the World Bank, targets youth aged 18 to 29, extending up to 35 for persons with disabilities. It encompasses various components, including entrepreneurship support, apprenticeship opportunities, youth savings schemes, and capacity-building to facilitate youth engagement with government procurement processes.
Implementation of the program is set to commence in the coming months, with local administrative offices overseeing the identification and support of eligible businesses. This initiative is part of the government’s broader strategy to stimulate local economies, create employment opportunities, and uplift the informal sector.
For more information on the NYOTA program and application procedures, interested individuals can visit the official website at nyotaproject.go.ke.
