NAIROBI, Kenya, Jan 8 – President William Ruto on Wednesday launched the second phase of the National Youth Opportunities Towards Advancement (NYOTA) Project in Eldoret, marking a major step in the government’s push to empower young people through entrepreneurship and enterprise development.
The launch ceremony, held at the Eldoret Sports Club, also served as a disbursement exercise for youths who have successfully qualified for the program’s startup financing.
The NYOTA Project is designed to equip young Kenyans with capital, skills, and institutional support to help them establish and grow sustainable businesses.
According to the Ministry of Cooperatives and Micro, Small and Medium Enterprises (MSMEs), approximately 50,000 beneficiaries will receive Sh22,000 each as startup capital, deposited directly into their NYOTA mobile wallets.
In addition, Sh3,000 will be credited to each beneficiary’s National Social Security Fund (NSSF) account to encourage a savings culture among young entrepreneurs.
Speaking at the event, President Ruto reaffirmed his administration’s commitment to placing young people at the center of Kenya’s economic transformation.
He said youth empowerment through enterprise development is key to tackling unemployment and unlocking innovation across the country.
“Young people are the engine of our economy. Through programs like NYOTA, we are giving them the tools they need to create jobs for themselves and others, and to participate meaningfully in national development,” the President said.
Officials from the Ministry of Cooperatives noted that the NYOTA Project goes beyond financial support, incorporating training, mentorship, and linkage to markets to improve the survival and growth rates of youth-led businesses.
The second phase builds on lessons learned from the initial rollout, with enhanced digital disbursement mechanisms and closer monitoring to ensure funds are used for their intended purpose.
The government says the project aligns with its broader Bottom-Up Economic Transformation Agenda, which prioritizes grassroots enterprise development.
Beneficiaries welcomed the initiative, describing it as a timely boost for small startups facing capital constraints.
Many said the combination of seed funding and compulsory savings would help them build more resilient businesses.
The government has indicated that further phases of the NYOTA Project will be rolled out nationwide as part of a long-term strategy to expand access to finance for young entrepreneurs and strengthen Kenya’s MSME sector.
