The government and the World Bank will inject an additional Ksh3.06 billion into 122,203 young entrepreneurs under the second phase of the National Youth Opportunities Towards Advancement (NYOTA) programme,  Kenyans.co.ke has established.

🇰🇪 Breaking It Down

Documents reviewed by this publication indicate the government is shifting its focus from helping young people start businesses to expanding enterprises already in operation.

According to the documents, the latest funding comprises 33,269 first-time beneficiaries who will receive their initial business grants and 88,934 continuing entrepreneurs who will receive a second tranche of financing to strengthen and grow businesses established under the programme.

The disbursement follows an initial phase in which the government invested more than Ksh2.28 billion in youth-owned enterprises after selecting participants through a nationwide process.

📌 What You Need to Know

According to the government, the first phase attracted more than 2.5 million applications from young people seeking business support.

From the applications, 121,800 entrepreneurs were selected from all 1,450 wards across the country to participate in the programme.

Before receiving funding, more than 91,253 beneficiaries completed Business Development Services training aimed at equipping them with entrepreneurial and financial management skills.

The government said more than 90,478 participants also completed structured mentorship programmes designed to improve business sustainability and long-term growth.

Officials said 96 per cent of beneficiaries had established operating businesses by the end of the first mentorship cycle, with enterprises ranging from grocery shops and food kiosks to salons, fishing businesses, mechanical workshops and boda boda operations.

The second phase is expected to direct fresh capital to entrepreneurs seeking to expand existing businesses while also bringing new beneficiaries into the programme.

📰 Source: Kenyans.co.ke