It is a big win for young business entrepreneurs in the North Rift region after local governors granted them a tax waiver on their business ventures to promote their new investments.
The youthful investors through the NYOTA business start-up support got the reprieve during inaugural launch of the NYOTA Project Business Start-Up Capital disbursement for the North Rift Cluster.
The event presided over by President William Ruto saw the government release at least Sh 235,575,000 in Eldoret, Uasin Gishu County to facilitate the young entrepreneurs start or expand sustainable businesses and transform their livelihoods.
During the event approximately Sh250 million was disbursed to over 9,500 young people from Uasin Gishu, Elgeyo-Marakwet, Nandi, Trans Nzoia, Turkana, and West Pokot counties under the Nyota Business Start Up Capital programme. Each beneficiary received Sh22,000 to grow their enterprises.
An additional Sh3,000 has been deposited into the young businesspeople savings’ accounts at the National Social Security Fund. Led by North Rift Economic Bloc (NOREB) Chairperson and Nandi Governor Stephen Sang; the beneficiaries were encouraged to invest wisely in sectors like agriculture, poultry and others as they were assured of county support in terms of capacity building and access to finance.
Governor Sang urged the youth beneficiaries to be proactive to invest in the agriculture sector, highlighting its potential for creating sustainable livelihoods and generating income.
He committed that the Nandi County Government would provide a waiver for the initial business permit fee for all NYOTA program beneficiaries who wish to start businesses within Nandi County, a promise reiterated by governors Jonathan Chelilim (Uasin Gishu) and Wisley Rotich (Elgeyo Marakwet) who attended the function.
Sang cautioned beneficiaries against misusing the funds, emphasizing that the proper and diligent use of the initial capital would determine their eligibility for subsequent support phases. He called for collaboration at both the national and county levels to enhance the impact of youth empowerment initiatives.
On his part, Uasin Gishu Governor Jonathan Chelilim encouraged the youth to join farmers’ cooperative Saccos in order to benefit more from the county support like access to funds through County Enterprise Fund, capacity building and others offered through the cooperatives.
Elgeyo Marakwet Governor Wisley Rotich commended the NYOTA program noting it would exponentially increase the number of young people in gainful employment. He mentioned that 1,400 youth from Elgeyo Marakwet are beneficiaries of this initiative.
By Jevvah Kiplimo
