Youth Fund in initiatives to enhance loan uptake

February 3, 2017

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Youth Fund in initiatives to enhance loan uptake

Youth_Fund_Initiatives_To_Enhance_Loan_Uptake

Nairobi, Tuesday November 15. The Youth Enterprise Development Fund has embarked on a comprehensive programme to enhance the uptake of its products, board chairman Ronald Osumba has revealed. The programme has several components including a national sensitization initiative and the introduction of youth friendly products, such as Sharia compliant loans.Mr. Osumba was speaking in his office when he received journalists who had visited to enquire on the efforts the board is making to reach out to youth. He added that the fund is planning to carry out business opportunity mapping so as to link financing to viable opportunities.

Mr. Osumba decried the regional disparities in loans uptake noting that while the uptake is high in some counties, it is very low in others. He attributed this to remoteness of some regions, poor communication infrastructure and cultural issues. “The education system has also prepared many youth for employment and not for entrepreneurship, a situation that negatively affects acceptance of entrepreneurship programmes in the country”, he added.

The Fund has to date disbursed Kshs. 11.7 billion to over one million youth. Besides loans the Fund also provides business support services such as entrepreneurship training, mentorship, market support and worksites. It also facilitates young people to take up jobs abroad.