Listen to This Article Enhance your reading experience by listening to this article.

Treasury Cabinet Secretary Njunguna Ndung’u has proposed a Ksh89.5 billion allocation to jobless youth and women in the country.

While presenting the 2024/25 Budget Estimates in the National Assembly on Thursday, June 13, 2024, CS Ndung’u argued that money will alleviate the issue on unemployment among the youth and women.

“To empower the youth and support businesses owned by youth and women, Ksh89.5 billion has been allocated in FY 2024/25,” the Treasury CS stated.

How the money will be divided

According to CS Ndung’u, the Kenya Youth Empowerment Program will get Ksh1.1 billion while the National Youth Service (NYS) will get Ksh10.4 billion.

CS Ndung’u further explained that the youth and women will access the funds through National Youth Opportunity Towards Achievement (NYOTA) which has been given Ksh2.7 billion.

Ksh200 million has been allocated to the Youth Enterprise Development Fund and Ksh162.5 million in the Centre for Entrepreneurship Project.

Uwezo Fund which for the longest term has been helping women access credit has been given Ksh200 million while Ksh230 million has been allocated to the Youth Empowerment Centers.

The famous Women Enterprise Fund is set to gain Ksh182.8 million.

According to the CS, the funds will help the youth and women set up various businesses to help them tackle the issue of unemployment in the country.

To promote regional equity, reduce poverty and enhance social development, the FY 2024/25 budget has set aside: Ksh63.0 billion to the National Government Constituency Development Fund (NG-CDF); Ksh8.0 billion to the Equalization Fund; and Ksh3.5 billion to National Government Affirmative Action Fund (NG-AAF).

CS Ndung’u further reiterated that the youth will benefit from job opportunities created in the Affordable Housing Programme.

“The Government’s commitment is to turn the housing challenge into an economic opportunity to create quality jobs for the youth directly in the construction sector and indirectly through the production of building products. This will be done through among other measures facilitating delivery of 200,000 houses per annum and enabling low-cost housing mortgages,” Ndung’u said.

For these and more credible stories, join our revamped Telegram and WhatsApp channels.

Telegram: https://t.me/peopledailydigital

WhatsApp: https://whatsapp.com/channel/0029Va698juDOQIToHyu1p