President William Ruto has officially launched the NYOTA Project, a large-scale financial initiative designed to support youth entrepreneurship across Kenya. This groundbreaking project, seen as both an economic stimulant and a political incentive, aims to empower Kenyan youth by providing essential business start-up capital.
The first phase of the NYOTA Project has already disbursed Ksh 245.6 million in capital to Nakuru, Baringo, Narok, Bomet, and Kericho counties. This capital injection into grassroots businesses is unprecedented in Kenya and could significantly impact the local economy if replicated across the country’s 47 counties.
The initial disbursement will benefit 9,847 successful applicants, each receiving Ksh 25,000 in start-up capital. Of this, Ksh 22,000 will be deposited into Pochi La Biashara accounts to help kickstart business operations, while Ksh 3,000 will be placed into Haba Na Haba savings accounts under the National Social Security Fund (NSSF) to promote long-term savings and financial security.
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Further Support and Opportunities for Youth Entrepreneurs
During the NYOTA Project’s launch event, President Ruto shared that the government is actively engaging development partners to explore a second phase of the Business Component under the NYOTA Project. He also encouraged skilled youth to take advantage of the Recognition of Prior Learning (RPL) component. This initiative allows uncertified youth to gain formal certification for their skills, opening up employment opportunities both locally and internationally through the government’s Labour Export Programme.
In addition, the NYOTA Project will provide 90,000 youth with On-the-Job Experience placements. These beneficiaries will work under skilled master trainers for six months, after which they will receive formal certification. Furthermore, 600,000 youth and women will be trained to access government procurement opportunities, which will empower them to participate meaningfully in public supply chains.
County-Level Support for NYOTA Beneficiaries
Nakuru County Governor, Mrs. Susan Kihika, encouraged beneficiaries to use the funds wisely and for their intended purpose: to start and grow sustainable businesses. She also offered county-level support for NYOTA participants, including license waivers through the Department of Trade, access to market stalls at Ziwani Market, and free vocational training at county vocational centers to boost skills development.
Cabinet Secretary for Investments, Trade and Industry, Lee Kinyanjui, encouraged beneficiaries in the built environment sector to take advantage of opportunities within the Affordable Housing Program. This includes supplying construction materials and furnishing components, which could lead to new growth avenues in Kenya’s expanding housing market.
