Youth unemployment in Kenya stands at 40 per cent-MP

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By Our Reporter

Forty per cent of the population of the Kenyan youth is currently unemployed.
This was revealed by chairman of Parliamentary Committee on Trade, Industry and Cooperatives Development Kanini Kega .
He said the problem has remained unresolved for many years and is ever growing.
Kega was speaking during the official opening of 3rd Annual Sacco Leaders Convention 2018 held at Sarova Whitesands Beach Hotel in Mombasa County recently.
Kega said saccos in the country have the opportunity of mobolising the youth and funding them as long as their business models are viable.
He asked saccos to look for means and ways recruiting more youths.
Kega who is also MP for Kieni East constituency in Makueni county said that the country has also experienced massive job losses and retrenchment as a result of downsizing by various companies all in a bid to lower their expenses.
He revealed that professionals can contribute to the growth of the economy if encouraged and trained on entrepreneurship.
The chairman urged Saccos to step in to develop products for the unemployed youths in the country and those who have been retrenched to enable them uplift their living standards.
“The government plays a key role in promoting the welfare of Kenyans through legislating favourable laws and policies”, Mr. Kega added.
Cooperatives Commissioner Mary Mungai told Sacco members to patronise their Saccos and remain united to enable them deliver quality services.
Speaking during the official closing of the 3rd Annual Sacco Leaders Convention she urged Sacco top officials to exercise high degree of integrity, accountability, and honesty while discharging their daily duties.
The commissioner disclosed that the move would facilitate them to win trust from the members they serve.
Mungai asked Kenyans to join Saccos in large numbers and develop a saving culture as they secure loans to accomplish their personal developments.
She further stated many people in the country have managed to accomplish their developments through taking loans from Saccos.
She also said that the Cooperative Movement plays a vital role in the country that of uplifting living standards of Kenyans.
Sacco Societies Regulatory Authority (SASRA) representative, Peter Njuguna told societies in the country to register their Saccos operating Front Office financial Services Activity (FOSA) before operation.
Delegates who attended the convention said it was educative and asked KUSCCO and other partners to organise frequent conventions to update them with new developments.

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