Young entrepreneurs in informal settlement to receive business funding

Written By: Carol Njenga
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Young entrepreneurs in informal settlement to receive business funding
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Young entrepreneurs drawn from Nairobi and Mombasa’s informal settlements will be financed to set up businesses after undergoing an entrepreneurship training.

Kenya Bankers Association Chief Executive Officer Habil Olaka says the project that was initiated last year seeks to empower vulnerable young people and transform their communities through entrepreneurship.

The YBIZNA programme spearheaded by bankers aims to support young men to explore, exploit and engage their capacities in bettering their livelihoods and that of their communities.

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The project seeks to empower the youth to access available economic opportunities through business enterprises, and inspiring leadership in their communities.

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More than 300 young entrepreneurs drawn from Nairobi and Mombasa informal settlements are set to receive funding to set up their own businesses after successfully undergoing entrepreneurship training.

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The cash will be disbursed through a revolving fund, where beneficiaries will obtain interest-free loans to establish enterprises as well as enable them inculcate life skills through practical engagements designed to create new opportunities for themselves, their peers and their communities.

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KBA Chief Executive Officer Habil Olaka says the initiative aims at inspiring business acumen among the youth and facilitate access to available socio-economic opportunities in their neighborhoods.

The beneficiaries have initiated start-ups in among others poultry farming, carpentry, phone repair, car wash, barber shops, pet dog rearing, and mat weaving.

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