Youth fund partner with the standard to lure youth into investments

Standard Group CEO Orlando Lyomu (left) exchange documents with Youth Enterprise Development Fund Chairman Ronald Osumba, during the signing of Collaborative Agreement between the two organizations on January 30 2019. [David Njaaga/Standard]
The Youth Enterprise Development Fund has entered into a partnership with The Standard Group to create an enabling environment for investment for young people.

The joint venture comes at a time unemployment among Kenyan youths is worryingly high.

The fund's officials said they want to reach out to five million young entrepreneurs to address joblessness.

Yesterday, the two entities signed the agreement at Standard Group headquarters along Mombasa Road in Nairobi where representatives expressed confidence the plan will bear fruit.

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While the fund will provide financial support to investments by youths, The Standard Group will offer platforms to share stories of young entrepreneurs making a difference in business.

Youth fund chairman Ronald Osumba said he is looking forward to reaching many young people through digital, newspaper and audiovisual broadcast platforms of the Standard Group.

Providing platforms

“We believe the Standard Group will be a key partner by providing platforms to help us reach many young people, through the Hustle Magazine or any of the other platforms,” said Osumba.

Osumba said KTN Farmers TV and Smart Harvest and Technology pullout in The Saturday Standard will play key roles since about 25 per cent of the youths are focused on agribusiness.

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"Your products are enriching as far as agriculture is concerned,” said Osumba.

He said the partnership with The Standard Group is timely considering the fund is planning to launch Mashinani Youth Enterprise programme across the country. The programme will be piloted in three counties.

CEO Josiah Moriasi said over Sh12.6 billion have been disbursed to over 2 million youths since the fund was established 11 years ago.

"We believe you will disseminate information that will help us reach more youths so they can access fund to sustain their businesses,” Mr Moriasi said.

His Standard Group counterpart Orlando Lyomu welcomed the partnership saying the Media has an opportunity to shape the agenda for the youths.

"The youths are the future of our country, whether in leadership, policy making or labour market. This is a timely initiative,” said Mr Lyomu.

He praised youths as innovative group that deserves an opportunity to invest and share their experiences.

“The technology keeps on changing and we must allow young people to teach us new things,” said Lyomu.

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Youth Enterprise Development FundStandard Groupinvestmentunemployment