The Micro and Small Enterprise Authority (MSEA) Chief Executive Officer Henry Rithaa has said that the government is committed to nurturing youth-led enterprises through close monitoring, mentorship and training of beneficiaries of the Nyota Business Start-Up Capital programme.
CEO Rithaa added that the State would closely follow up on all beneficiaries to ensure the funds are used prudently to grow businesses and improve livelihoods.
He spoke during the launch of the Ksh168 million Nyota Business Start-Up Capital disbursement by President William Ruto and his deputy, Prof Kithure Kindiki, at Kinoru Stadium in Meru town.
The funds target young entrepreneurs from Meru, Embu and Tharaka Nithi counties.
Rithaa said the government is keen on minimizing wastage and discouraging misuse of the funds, noting that beneficiaries will undergo structured mentorship after receiving the capital.
“The government is fully committed to inclusivity and youth empowerment through sustainable initiatives. Our focus is on creating long-term change by enabling income generation and promoting a culture of saving among the youth,” he said.
He explained that the Nyota Programme is part of a five-year government initiative aligned to the Bottom-Up Economic Transformation Agenda (BETA), which seeks to tackle unemployment and stimulate growth at the grassroots.
ALSO READ:
250 youth in Nyeri to benefit from 45-day NYOTA skills training
According to Rithaa, the programme is deliberately structured to guide beneficiaries towards productive business ventures rather than risky or speculative activities.
He revealed that all beneficiaries will be subjected to a mandatory two-month mentorship period after disbursement of the funds, during which trained professionals will work closely with them.
“We have professionals who trained you and who are ready to walk with you for two months to ensure you succeed,” he said.
The CEO also warned beneficiaries to be vigilant against fraudsters, cautioning them against clicking suspicious links circulating online.
He said scammers were targeting beneficiaries in an attempt to steal personal information and siphon off the funds meant to uplift youth enterprises.
The Ksh168 million disbursement will benefit 6,720 young entrepreneurs across the three counties, whereby each beneficiary will receive Ksh 25,000 in the first phase, with Ksh 22,000 credited directly to the beneficiary’s Pochi la Biashara account to start or boost a business.
The remaining Ksh 3,000 will be deposited into a Haba na Haba savings account managed by the National Social Security Fund (NSSF), in a move aimed at instilling a savings culture among the youth.
Under the second phase of the Nyota Start-Up Capital Disbursement, beneficiaries will receive an additional Ksh25,000, bringing the total support per beneficiary to Ksh50,000.
ALSO READ:
Kenya Electrical Trades and Allied Workers Union warns of strike over pending CBA
Principal Secretary for the State Department for Micro, Small and Medium Enterprises Development, Susan Auma Mang’eni also issued a stern warning against misuse of the funds.
Speaking at the same event, Mang’eni cautioned beneficiaries against gambling, saying the funds disbursed through Pochi la Biashara were deliberately restricted and would not work on betting platforms.
“The restrictions were intentional. We want to protect our youth from losing this money through gambling and ensure it is used strictly for business,” she said.
She added that the government had put in place measures to safeguard and prevent the funds from being deposited on betting sites, underscoring the State’s resolve to see the programme deliver tangible economic outcomes.
President Ruto said the Nyota programme is a key pillar of his administration’s agenda to empower young people by providing capital, skills and mentorship to enable them to create sustainable livelihoods.
He urged beneficiaries to seize the opportunity to grow their enterprises, create jobs and contribute to the growth of local economies.
The launch marked a major milestone in the government’s efforts to support youth entrepreneurship and drive inclusive economic growth across the country.
By John Majau
Get more stories from our website: Sacco Review.
For comments and clarifications, write to: Saccoreview@
Kindly follow us via our social media pages on Facebook: Sacco Review Newspaper for timely updates
Stay ahead of the pack! Grab the latest Sacco Review newspaper!
