Ruto rolls out Sh3billion NYOTA boost, grants two-year business permit waiver
President William Ruto has yesterday launched the second phase of the National Youth Opportunities Towards Advancement (NYOTA) programme, with Sh3 billion set to be disbursed to 122,000 young beneficiaries across the country to boost entrepreneurship and job creation.
Speaking during the launch at the Ulinzi Sports Complex in Nairobi during yesterday’s launch of the second phase, the president directed the Intergovernmental Budget and Economic Council (IBEC) and county governments to introduce a two-year business permit waiver for all NYOTA beneficiaries to ease the cost of starting and running businesses.
Ruto said the waiver would eliminate unnecessary regulatory barriers and allow young enterprises sufficient time to establish themselves before taking on the full burden of compliance costs.
He also instructed the Ministry of Cooperatives and Micro, Small and Medium Enterprises (MSME) Development to establish a national NYOTA identification system to enable beneficiaries to seamlessly access government services, incentives and business growth opportunities.
Deputy President Kithure Kindiki said the programme builds on the success of the first phase launched in February, when about 123,000 youths received grants.
He noted that 88,000 beneficiaries from the initial cohort had progressed to the next stage, while 33,000 new beneficiaries had been enrolled, bringing the total recipients in the second phase to 122,000.
Each beneficiary will receive Sh25,000, with Sh3,000 remitted directly to the National Social Security Fund (NSSF) to encourage savings, while Sh22,000 will be deposited into beneficiaries’ mobile money accounts to support business start-ups and expansion.
Kindiki said the NYOTA programme remains a key government initiative to tackle youth unemployment through financial support, entrepreneurship training and mentorship, adding that the government intends to expand the programme as more resources become available.
