Ruto to launch 2nd NYOTA Fund disbursement on Friday

The government will on Friday release Sh3 billion to 122,000 young entrepreneurs under the second phase of the National Youth Opportunities Towards Advancement (NYOTA) business support programme, President William Ruto has announced.

In a statement shared on his X account on Monday, Ruto said each beneficiary will receive Sh25,000, bringing the total amount disbursed to every participant to Sh50,000 following an earlier allocation made this year.

“With the launch of the Sh3 billion second tranche of the business support component for the 122,000 beneficiaries, each beneficiary will receive Sh25,000. In addition to a similar amount they had received earlier in the year, each beneficiary will have received a total of Sh50,000,” Ruto said.

The President noted that all beneficiaries had completed a business development skills programme before qualifying for the second disbursement.

He added that the nationwide launch would be conducted simultaneously at 18 venues across the country and would involve beneficiaries drawn from all the 47 counties.

Ruto announced the plans after receiving a briefing at State House, Nairobi, on the progress of the NYOTA business support component ahead of Friday’s rollout.

The NYOTA programme is one of the government’s flagship youth empowerment initiatives aimed at supporting young entrepreneurs through start-up capital, business training and employment opportunities.

The latest disbursement follows the programme’s earlier rollout in which Sh250 million was released to 9,500 young entrepreneurs from six North Rift counties including Turkana, West Pokot, Trans Nzoia, Nandi, Uasin Gishu and Elgeyo Marakwet.

Under the programme, beneficiaries receive the Sh50,000 support in phases and must complete business development training before accessing the full amount.

The initiative is jointly funded by the Government of Kenya and the World Bank and seeks to expand economic opportunities for young people through enterprise development, skills training and employment creation.

When unveiling the programme in January, Ruto said it had an overall budget of Sh5 billion targeting 100,000 youths across the country, with at least 70 beneficiaries selected from each of Kenya’s 1,450 wards.

“This programme involves a high level of accountability and transparency because it is about an individual’s effort to initiate a project that can transform their life,” he said.

Apart from providing business capital, the programme also includes on-the-job training for 90,000 youths, recognition of prior learning to certify 20,000 young people, and business training aimed at enabling 600,000 youths to access government procurement opportunities.

Under the apprenticeship component, beneficiaries are attached to master craftsmen and women for six months, receive a monthly stipend of Sh6,000 and undergo skills certification fully funded by the government.

The President has previously urged beneficiaries to invest the funds prudently, saying responsible use of the money would determine eligibility for future government support.