Ruto: Africa must address barriers hindering youth entrepreneurship
The Head of State said innovation holds the potential to accelerate Africa’s development goals.
President William Ruto has urged African governments to create a conducive environment for entrepreneurship to expand opportunities for the youth.
Ruto said the governments should strive to provide young people with access to capital, mentorship and opportunities.
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This, he said, will enable youth to transform their ideas into thriving cross-border businesses.
“This can be achieved by simplifying business regulations, facilitating access to finance and promoting regional economic integration,” he said.
The President said Kenya is leading from the front having set up the Hustler Fund that has enhanced access to affordable credit in the country.
“The Hustler Fund has enabled more than 21.7 million Kenyans access resources to establish and progress their enterprises especially those at the lowest echelons of the socio-economic ladder,” he said.
The President made the remarks during the official opening of the Youth Connekt Africa summit held in Nairobi on Saturday.
The event also doubled as the graduation ceremony of graduates from Arizona State University as well as those from Google Hustler Academy.
President Ruto affirmed Kenya’s support for the establishment of the African Continental Free Trade Area (AfCFTA), which seeks to create a borderless market for African businesses.
“Kenya is in the process of eliminating visa requirements for African Countries as we strive to ensure the attainment of Africa’s Borderless Commerce,” he added.
The Head of State said innovation holds the potential to accelerate Africa’s development goals.
“To grow fast, we must deliberately focus on innovation to create fresh opportunities through the creation of new products, models and partnerships,” he said.
Present were Lesotho Prime Minister Sam Matekane, Deputy President Rigathi Gachagua, his spouse pastor Dorcas, and Rwanda’s Minister for Youth Affairs Abdallah Utumatwishima among others.
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