Youth Fund CEO stays put as Mucheru appoints acting boss

Youth Enterprise Development Fund (YEDF) chief Executive officer Josiah Moriasi.

The Youth Enterprise Development Fund Board has kicked out Josiah Moriasi as the chief executive officer.

The Saturday Standard learnt that the board members voted to seal Mr Moriasi’s fate. Five out of the nine directors voted to have his contract terminated.

After the boardroom coup, Cabinet Secretary for ICT, Innovation and Youth Affairs Joe Mucheru appointed Benson Muthendi, the Fund’s Public Relations manager as the new CEO on acting capacity, a move that is likely to head to the courts.

Moriasi, in a phone interview, said the board ignored the 2016/17 and the 2017/18 performance evaluation reports, which showed the embattled CEO scored 86 and 89 per cent respectively.

“The board resorted to voting, a move that can be challenged. The influencing of board members to vote in a certain direction is regrettable and unacceptable. This matter should be handled in a proper way. The coming days will be critical for the organisation,” he said.

In a meeting held on April 27, 2020, the board resolved not to renew Moriasi’s contract and instead opted to appoint one in an acting capacity.

However, the board took cognisance of the fact that the CEO had registered significant milestones in improving the performance of the Fund since it was established.