The Youth Enterprise Development Fund has partnered with the Municipal Council of Meru to build 480 market stalls, general stands, shoe shine sheds and newspaper stands to accommodate youth in the municipality. The two parties signed an MOU to jointly promote mainstreaming of youths from street hawking to more recognized informal sector players hence promoting their personal development and national growth.

One of the mandates of the Fund is to attract and facilitate investment in micro, small and medium enterprises oriented commercial infrastructure such as business or industrial parks, market stalls, open air markets or business incubators that will be beneficial to youth owned enterprises.

The Pact was signed by the Chief Executive Officer of the Fund, Mr. Mwatata Juma Mwangala and Mr. Jasper M. Mutuiri, the Town Clerk. The signing was witnessed by His Worship, The Mayor of the Council, Councilor Samwel Kiome Rimbere and the Fund’s senior management.

Speaking during the signing, Mr. Mwatata, said the Fund will not only partner with the Municipal Council of Meru in the commercial infrastructure mandate, but also in other mandates of the Fund. He informed the gathering that this was only the beginning of a long journey in making sure that the youth of this country get access to affordable trading space and working sites. He further emphasized that this investment was a loan to the youths who will be expected to repay to the Fund at pre-determined terms and conditions to be spelt out in the individual contract documents to be signed between the Fund and youth beneficiaries.

His Worship, the Mayor thanked the Fund for the partnership under the commercial infrastructure mandate. He said being a civic leader and an elected representative, the economic empowerment of the youth is one of his key responsibilities.  He added that the council was privileged to be the first in the country to be considered for partnership under this mandate.

Similar sentiments were expressed by the Town Clerk who said that the Council has a Social Welfare department that caters for the youth, women and the challenged. The Town Clerk was pleased with the partnership as this will go a long way in improving the council’s performance contract in line with achievement of Vision 2030. He pledged his total support to the proposed partnership with his team of chief officers from the Council to make the partnership a success.

During the ceremony the Mayor was anointed as an ambassador of the Youth Enterprise Development Fund, and was presented with a branded umbrella as a memento.

The tender for the construction of the stalls has since been advertised.