Some 50 youths groups and five business individuals in Kitui County have benefited from Sh15 million Youth Enterprise development fund in the financial year 2021/2022
Speaking to KNA in his office in Kitui Central, Kitui County Youth Fund manager Mahlon Musembi said majority of the youth have been able to turn their lives around and earn a living through the fund.
Musembi added that the programme’s intention is to fight poverty and curb unemployment among the youths.
“Am glad the beneficiaries have started and have been able to expand their businesses and start new ones, and we have seen major success stories all over Kitui county,” said Musembi.
According Musembi, the funds are given to youths in form of interest free loans in groups of not less than five.
“A group qualifies for a maximum of Sh100,000 for starters and up to Sh1 million as it advances, the first three months from the time of application is a grace period, from this period they are expected to pay full amount in installments for a period of one year,” added Musembi.
Mukameni Youth Group which rears goats and does table banking is among the 50 groups that benefited this year. The group received Sh400,000 and this has really helped them to expand their business and increase profit.
Musembi confirmed that there many other groups like Kibwea and Kalambani Bidii Youth groups which have invested in boda boda sector and were highly benefiting from it.
He said it is time for youths to stop waiting for handouts that condemn them to a life of poverty and make them dependent on politicians.
“Am kindly asking our youths to shun divisive politics and focus on themselves by exploring available government opportunities to safeguard their futures,” he stressed.
He also urged beneficiaries to ensure they repay the loans in time to qualify for more funding.