The Kenya Youth Employment and Entrepreneurship Accelerator Program (K-YEEAP), which intends to create at least one million jobs for youth in Kenya over the next five years, was introduced by the Kenya Private Sector Alliance (KEPSA) on Monday, October 31, 2022, in Nairobi.
Geoffrey Rigathi Gachagua, the deputy president of Kenya, gave a speech at the event and praised the business community for working with the government to address the issue of youth unemployment in the nation.
Partnerships between the public and private sectors will be a crucial factor in providing opportunities and jobs for our kids. The Kenya Kwanza government will provide a welcoming climate to ensure that this takes place for an inclusive and fair society.
According to DP Gachagua, the Kenya Youth Employment and Entrepreneurship Accelerator Program (K-YEEAP) project aims to maximize the potential of small and medium-sized businesses by providing them with specialised support services that enable them to expand and employ youth.
“As a government, we will provide the necessary support to take the youth closer to their collective dream of a better future. This fund and the partnership with the Kenya Private Sector Alliance will go a long way towards giving the youth an equal chance at life.”
The program would reportedly also make use of technology and digital transformation to build up the enterprises, according to Kenya Private Sector Alliance (KEPSA).
Gachagua indicated that an estimated 1.000.000 young people graduate from higher education institutions each year, putting Kenya’s youth unemployment rate at 38.9%.
In order to ensure that Kenya continues to play a significant role in the ongoing digital revolution, he further mentioned the Kenya Kwanza Government’s dedication to fostering an environment that is favorable for both emerging and established business owners.