The government will give priority to the youth with business plans and those at early stages of business ventures while advancing loans from the affirmative action funds such as the youth fund.
Speaking during the launch of the World Bank-Funded MbelenaBiz competition, Public Service, Youth and Gender Affairs Cabinet Secretary Margaret Kobia said the government is currently reviewing the youth policy.
The MbeleNaBiz Business Plan Competition (“MbeleNaBiz”) is an initiative of the Government of Kenya, under the Kenya Youth Employment and Opportunities Project (KYEOP).
The policy is expected to address challenges such as lack of access to networks and mentorship programmes which are the main obstacles hindering development of small scale business start-ups in the country.
National Project Coordinator KYEOP Olivia Ouko noted that the policy will address the 30% procurement opportunities for women and youth.
“It is important to have a policy in place to guide you. We are now reviewing the Youth Policy that is looking at 30 % procurement Opportunities for the women youth and people with disabilities that is already a legal framework in place.” Noted Olivia Ouko.
The MbeleNaBiz competition seeks to avail capital to best written business plans.
“This Competition is going to invite some passion to the youth to go into business , make profit and employ others,” said PS Kobia.