Nairobi, August 12- President William Ruto has unveiled plans to launch a Youth Enterprise Investment Bank to boost youth-led businesses across the country.
Speaking in Kakamega on Tuesday during International Youth Day celebrations, Ruto said the institution will provide affordable loans, credit guarantees, and training programmes to help young entrepreneurs thrive.
“Before the year ends, we will establish the Youth Enterprise Investment Bank, capitalised at Ksh9.75 billion, to offer financing, credit guarantees, and capacity-building support for young people,” the president announced.
He noted that the initiative is part of a broader government agenda to enhance financial inclusion and create sustainable economic opportunities for the youth, who form the majority of Kenya’s population.
According to Ruto, the bank will be designed to tackle persistent hurdles faced by young entrepreneurs, including lack of collateral, high interest rates, and limited access to business development skills. The rollout is expected before year-end to ensure more young Kenyans can access the tools and resources needed to launch and grow their ventures.
