The Ministry of Cooperatives has announced the launch of the National Youth Opportunities Towards Advancement (NYOTA) Project, a new initiative aimed at empowering young Kenyans through financial support and business training.
This program will provide selected beneficiaries with Ksh50,000 to start or expand their businesses, targeting over 100,000 youth across the country.
During a briefing with the National Assembly Committee on Trade and Cooperatives, officials from the Micro and Small Enterprise Authority (MSEA) outlined the project’s objectives.
They emphasized that the NYOTA initiative builds upon the success of the Kenya Youth Empowerment Program (KYEOP), which was designed to enhance employment opportunities and economic independence among young people.
The NYOTA Project will be rolled out nationwide, with at least 70 youth selected per ward. The funds will be disbursed in two instalments of Ksh25,000 each, ensuring that recipients use the initial funding to set up sustainable enterprises before receiving the second phase.
The program primarily targets individuals aged 18 to 29, with an extended eligibility of up to 35 years for persons with disabilities.
MSEA representatives explained that, alongside financial aid, beneficiaries would receive business development training and mentorship to help them establish profitable ventures.
They reassured legislators that despite concerns about the adequacy of the allocated funds, many small businesses can thrive with minimal capital.This latest government initiative reflects ongoing efforts to address youth unemployment and economic hardship.
By equipping young entrepreneurs with resources and knowledge, the program seeks to foster self-reliance and financial stability.
As the NYOTA Project rolls out, it is expected to create new opportunities for thousands of Kenyan youth, contributing to economic growth.
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