President Ruto launches second NYOTA tranche as 122,000 youth receive Sh3.05 billion support

More than 122,000 young entrepreneurs across all 47 counties are set to benefit from business support worth more than Sh3.05 billion under the second tranche of the National Youth Opportunities Towards Advancement (NYOTA) Programme.

President William Ruto announced the disbursement on Friday during the launch of the second tranche at the Ulinzi Sports Complex in Nairobi, where he said 88,934 beneficiaries who successfully invested their initial Sh25,000 support would receive a second tranche of the same amount, bringing their total funding under the programme to Sh50,000.

Another 33,269 young Kenyans are receiving their first tranche of Sh25,000 to begin their entrepreneurial journey, bringing the total number of beneficiaries under the latest disbursement to more than 122,000.

“More than 122,000 young entrepreneurs across all 47 counties are today receiving business support worth more than Sh3.05 billion. This is one of the largest coordinated investments ever made in Kenya’s young entrepreneurs, because when we invest in enterprise, we invest in the future of our economy,” Ruto said.

Ruto noted that the programme had demonstrated that small beginnings could lead to significant transformation when young people are given opportunities to grow their businesses.

“Some dismissed the NYOTA Enterprise Programme. They said Sh25,000 could change nothing. But facts have a way of outliving scepticism,” he said.

He added that the government’s role was to ensure youth-owned enterprises receive the support needed to move from small startups to sustainable businesses.

“Our young people were never waiting for handouts. They were waiting for an opportunity,” he said, adding that enterprise growth creates jobs, supports families and strengthens the economy.

To help beneficiaries sustain and expand their businesses, the President directed the Intergovernmental Budget and Economic Council, working with county governments, to establish a two-year business permit waiver for NYOTA beneficiaries.

He also directed the Ministry of Co-operatives and MSMEs Development to create a national NYOTA identification mechanism to enable beneficiaries to access government services, incentives and enterprise support.

The President also reaffirmed plans for a second intake of the NYOTA Programme during the second quarter of the financial year, saying the initiative was aimed at turning youth unemployment into an opportunity for enterprise creation and job generation.