New bill proposes introduction of youth fund to curb unemployment
By Maureen Kinyanjui |
If passed, the bill is expected to play a critical role in empowering young people through tailored financial support, fostering innovation, and preparing them for the modern job market.
The government has unveiled a draft Youth (Amendment) Bill, 2024, proposing the creation of an enhanced credit fund to tackle youth unemployment
The proposed fund aims to provide accessible financial resources for entrepreneurship, innovation, and sustainable livelihood projects, alongside capacity-building programmes for young people.
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According to the bill, the fund will offer grants, loans, and other financial assistance to youth-led enterprises while supporting training in financial literacy, business management, and technical skills.
It also seeks to strengthen the alignment between youth education, skills development, and the demands of the evolving job market.
George Mbogo, Director for Youth in charge of Entrepreneurship and Skill Development at the State Department for Youth Affairs, described the fund as more comprehensive than current initiatives.
"The proposed youth fund is more enhanced and comprehensive because the current one emphasises the enterprises of the young people, but in the proposed fund, the youth will be able to formulate proposals and get assistance in terms of capacity building and resources," he explained.
The Director added that the bill creates a new office for a youth registrar to coordinate and streamline youth activities.
"Currently, almost everybody says they are doing youth work, and at times there is a lot of disorganisation. With this bill, we will be able to streamline, organise, and coordinate activities specifically tailored to the youth," Mbogo added.
The Kenya Institute for Public Policy and Research Analysis estimates that between 500,000 and 800,000 young people enter the job market annually.
However, the economy's growth has not kept pace, leaving many without opportunities.
The bill emphasises linking education and training systems with labour market demands while introducing safety nets to prevent young people from falling into poverty.
If passed, the bill is expected to play a critical role in empowering young people through tailored financial support, fostering innovation, and preparing them for the modern job market.
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