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The Youth Enterprise Development Fund has launched a 100 day Rapid Results Initiative. The initiative is aimed at fast tracking several programmes. The initiative was launched in a ceremony at KICC by Hon. Dr. Paul Otuoma, Minister for Youth Affairs and Sports.
The initiative aims at, among other things, reducing the turnaround time for loan applications, diversifying loan products, increasing loan uptake and introducing targeted linkage schemes. The initiative is also expected to result in a new and modern website, as well as enhance stakeholder engagement.
- The initiative has four thematic areas, namely;
- Enterprise Development
- Information, Education and Communication
- Customer Service
- Administration
During the launch, Minister Otuoma recalled that in his New Year address the president promised that the government will continue to strengthen the Youth Enterprise Development Fund to enable the youth access affordable credit. The RRI is therefore a step towards fulfilling the President’s promise.
The minister announced that the Fund is in the process of establishing a credit guarantee scheme to make it easier for youth to access credit. The scheme will encourage financial institutions to lend to youth, on a risk sharing basis. The minister also announced that the Fund is in the process of establishing a programme that will enable the youth own franchises.
The event was also attended by Youth and Sports Assistant Minister Hon. Wavinya Ndeti, Permanent Secretary James Waweru, acting Youth Fund Chief Executive Officer Mwatata Mwangala and Head of Public Service Transformation Department Emanuel Lubembe. Others in attendance were Youth Fund board members Gor Semelang’o and Samuel Macharia as well as Ms Susan Kariuki, Chief Executive Officer of Youth Agenda.
Youth and Sports Minister hands RRI target to YEDF Acting CEO Mwatata Mwangala
Key Result Areas of the 100 days Rapid Results Initiative
| No. |
Thematic Area |
Key Target Results |
| 1. |
Enterprise Development
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i) Reduce turnaround time for loan applications by 50%
ii) Increase loan uptake by 30%
iii) Develop framework for credit guarantee scheme
iv) Diversify loan products in line with youth needs
v) Enhance sustainability of youth enterprises
vi) Develop self directed learning materials for entrepreneurship training
vii) Document and domesticate world best practices
viii) Introduce targeted linkage schemes |
| 2. |
Information, Education and Communication
|
i) Enhanced stakeholder engagement
ii) Diverse and user friendly IEC materials, including Braille
iii) Refurbished resourceful and user friendly website
iv) Enhanced information sharing and dissemination |
| 3. |
Customer Service
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i) Review and dissemination of customer service charters
ii) Effective customer feedback mechanisms
iii) Enhance, implement and disseminate customer complaints resolution mechanisms |
| 4. |
Administrative Support Services
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i) Enhanced sustainability of the Fund
ii) Introduce and implement enhanced staff appraisal tools |
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