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Form Groups for Easy Access to Funds, Youth Urged

1.5 Million Disbursed to youth in Westlands Constituency
Youth Enterprise Development Fund Board Chairman, Ronald Osumba, has called on youth to form groups as it is one of the best and easiest way to get funding for business startups. He said that the group loans being offered by the Youth Fund do not need collateral which is something most youth struggle with. “Groups make one accountable because members keep each other in check. Youth Fund support young people in groups to start income generating activities at the constituency level. Our loans are interest free hence the best opportunity for the first time youth Entrepreneurs”. Said Osumba.

Speaking on Friday 16th September 2016 during the launch of the Youth Spark Live, in Afraha Stadium, Nakuru County, Mr. Osumba said that the Fund has disbursed millions of shillings that has benefited over 25,000 youth in the County.

“To enables us support more youth, current beneficiaries of youth fund must play their roles by repaying their loans. This is a revolving fund hence people must repay for others to also benefit”, he said.

According to the Chairman, the Youth Fund has partnered with Nakuru County Government in various projects, with the primary objective being enterprise development and financing to solve the unemployment problem facing the youth.

“We have partnered in many ways with the county government especially in providing spaces for youth to conduct businesses in. We have also provided capacity training for youth groups whether in churches, schools and public gathering in this county”, he said.

“Youth fund also provides training for special groups such as the deaf community and the county governments supports them by offering waivers on taxes”, he added.

The chairman cautioned that the economy can only create few jobs for the larger youth constituency in Kenya, therefore they must seek entrepreneurship opportunities by getting good ideas and necessary skills to develop these ideas. He concluded by requesting the youth to look for the necessary financing from commercial banks, Youth Fund, Uwezo Fund and Micro finances among other financial institutions.

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