Kericho: The National Government has disbursed Sh3 million through the Youth Enterprise Development Fund to five youth groups in Kericho County, providing fresh capital to expand businesses, strengthen income-generating activities, and create employment opportunities.
According to Kenya News Agency, Youth Enterprise Development Fund Kericho County Credit Officer Victor Langat stated that the five groups were among beneficiaries drawn from various parts of the county, with the latest financing targeting enterprises run by young people. Among the youth groups benefiting from the latest disbursement are Meturi Youth Group, Kamiwa Shinners Self Help Group, Lemeiywet Village Youth Group, 88 Lelach Youth Group, and Chepkosilen United Youth Group.
Langat noted that Kipkelion East and Sigowet-Soin had yet to benefit from the latest funding cycle pending applications. He urged eligible young people in these areas and across the county to complete the application process and take advantage of the available financing. He mentioned that the uptake of Youth Fund financing in the county remained below its potential, despite the availability of various loan products designed to support youth enterprises in different sectors.
During the last financial year, Langat reported that 10 youth groups received a total of Sh4,356,350 from the Fund, reflecting continued government investment in youth-owned enterprises in the county. He encouraged more young people to access the financing and invest it in viable businesses, highlighting that the Fund provided an opportunity for youth to build enterprises capable of generating income and creating jobs.
Langat also reported an improvement in loan repayment, with the county office recovering Sh5.39 million during the last financial year, up from about Sh2 million in an earlier financial year. He attributed the improved recovery to regular monitoring and follow-up of beneficiary groups, which helped identify challenges early and encouraged groups to meet their repayment obligations.
The impact of the financing is already being seen among beneficiary groups undertaking agriculture, trade, and other income-generating activities. 88 Lelach Youth Group from Belgut Constituency, for instance, has invested in poultry farming, maize farming, and cereal trading after accessing financing from the Fund. Group member Julius Ng’etich said cereal trading had become the group’s main project, with members buying and selling cereals, including supplying customers at Kabianga University.
Kamiwa Shinners Self Help Group has also expanded its activities through Youth Fund financing, with its members engaged in table banking and cereal trading. Group member Lily Chepkorir Koech said the group initially accessed a Sh100,000 loan and later secured Sh300,000 after successfully repaying the first facility. The group has since applied for Sh500,000 to expand its operations further. She mentioned that the group had secured tenders to supply cereals to schools and was also advancing loans to members to strengthen their individual businesses.
County Credit Officer Victor Langat encouraged young people to explore agribusiness, noting that the Fund’s Agribizz Loan is available to agripreneurs, including registered youth groups, individuals, partnerships, and youth-owned companies. The Fund’s financing products also include the Stawi Loan, which supports group projects, running businesses, business expansion, special business projects, and acquisition of group business assets. Youth-owned enterprises with eligible procurement contracts can also access Trade Finance (LPO/LSO) Loan, which is designed to finance the execution of Local Purchase Orders and Local Service Orders.
Langat stated that the Youth Enterprise Development Fund was working with the Kericho County Government and other partners to conduct joint sensitization programs aimed at increasing awareness of the Fund’s financing products and encouraging more young people to take up the available opportunities. He added that the sensitization programs would also equip prospective beneficiaries with information on the application process, available financing products, and repayment requirements.
The Youth Enterprise Development Fund provides credit and business development support to youth-owned enterprises as part of government efforts to promote youth entrepreneurship and employment creation.
