County uptake of youth fund low
County groups will absorb only Sh6 million from the Youth Fund to boost their small businesses this year.
Only 140 groups across the 17 constituencies applied for the loans, leaving out over 500 registered businesses.
This is just a quarter of what would be available for the groups, according to Youth Enterprise Development Fund data.
The Youth Fund chairman, Mr Gor Semelang’o decried the low uptake and cautioned the youth against underestimating what the money could do for them.
“City life is quite expensive. If you look at what many people earn in their mid-level jobs and what successful entrepreneurs take home every month, you will prefer to do business,” Mr Semelang’o said at Tom Mboya Social Hall in Makadara.
The official addressed hundreds of youth in Makadara, Starehe, Kamukunji, Lang’ata and Dagoretti South constituencies as he presented cheques to various groups.
“Stop being obsessed with salaried jobs. Instead, use your creativity to venture in income generating activities as they are more rewarding,” he said.
Mr Semelang’o said city youths had more opportunities to make money, rather than consider themselves miserable for lack of formal jobs. “We want to get you off idleness in the estates. Just think of an idea and come to us,” he said.
Ziwani Kariakor County Representative Millicent Mugadi decried the low loan uptake in the area, saying the youth lacked information about where to collect the forms.
“A lot of them have no idea where to get the money. We shall roll out an awareness campaign because the money you need is available,” said Ms Mugadi at Kariakor.