Youth unemployment is increasingly gaining the desired attention from the government as 5.1 million new jobs were created in the last financial year, according to the Treasury.
Treasury Cabinet Secretary Ukur Yatani said in his Budget Speech yesterday the government had sustained investment in all sectors.
In light of the revenue challenges and significant expenditure demands, spending in the FY 2022/23 will focus on supporting economic recovery and the “Big Four” Agenda to ensure the highest impact on the well-being of Kenyans.
Yatani noted that the government was implementing the third Sh30.1 billion Economic Stimulus Programme to accelerate the pace of economic growth and sustain the gains realized so far.
“To further enhance the ongoing interventions, I propose a total of Sh20.6 billion in this Budget to support implementation of various activities… out of this, Sh2.1 billion is for youth empowerment and employment creation under the Kazi Mtaani Programme," he said.
To equip the youth with essential training and internship opportunities, the Cabinet Secretary also proposed an allocation of Sh1.3 billion for the Kenya Industry and Entrepreneurship Project and Sh2.2 billion for the Kenya Youth Employment and Opportunities Project.
The Standard also learned that other projects aimed at generation of jobs and improved livelihoods include the Sh2.6 billion for Dongo Kundu Special Economic Zone; Sh295 million for the development of the Special Economic Zone Textile Park in Naivasha, Kinanie Leather Industrial Park and Athi River Textile Hub; Sh50 million for the Freeport and Industrial Park Special Economic Zone in Mombasa.
“Other proposed allocations include Sh410.4 million for the modernisation of Rivatex and Sh3.0 billion for supporting access to finance and enterprise recovery,” Yatani added.