YOUTH ENTREPRISE FUND

YEDF

The Youth Enterprise Development Fund (YEDF) was established in year 2006 with the sole purpose of reducing unemployment among the youth who account for over 61% of the unemployed in the country. The target of the fund is young people within the age bracket of 18 to 35 years who number 13 million. The Fund was gazetted on 8th December 2006 and then transformed into a State Corporation on 11th May 2007.

The Fund’s strategic focus is on enterprise development as a key strategy that will increase economic opportunities for, and participation by Kenyan youth in nation building. The government has so far released Ks. 3.8 billion to the Fund. In 2008 the Fund developed a 3 year strategic plan to address varied needs and aspirations of the youth, and to address the challenges it has faced in the past. The Fund is currently working on a 5 year strategic plan in line with the Medium Term Plan (MTP) of the Vision 2030. It is the Fund’s intention to evolve and be able to meet the dynamic needs of the youth, who are its raison d’être. The fund is constantly reviewing its operational mechanisms from time to time in order to make it responsive to needs and expectations of the target clients.

Youth Enterprise Development Fund was established in December 2006 by the government as an initiative that is hoped to address the unemployment rate among the youth. The twin strategic pillars of this initiative are enterprise development and externally focused employment creation through Youth Employment Scheme Abroad (YESA).

To date the Fund has:

  • Financed over 157,000 youth enterprises to the tune of KS. 5.9 billion. Many of the youth the Fund supported at inception are today big employers.
  • Helped thousands of youth build their enterprises through market support and entrepreneurship training. The Fund has trained over 200,000 young entrepreneurs.
  • Supported thousands of youth to take up jobs overseas through the Youth Employment Scheme Abroad (YESA) programme.

The Fund has helped create over 300,000 jobs in the five years.

The Fund has continued to diversify its product base by focusing on interventions that are more responsive to the needs of the youth and are geared towards addressing specific challenges facing young entrepreneurs.

The Fund has established a component that will enable it advance big loans directly to youth whose enterprises demonstrate capacity to create many jobs for young people.

The Fund intends to partner with business owners who would like to franchise their brands. This move affords the youth with business opportunities already tried and tested and known in the market. The Fund will finance interested franchisees to start and run such businesses with the technical support of the franchisor.

In order to enhance penetration of information at the grassroots, and to ensure that the Fund’s services remain relevant to our clients the fund has started a grassroots stakeholder programme known as Mashinani. In this programme youth, leaders and other stakeholders from a particular county are gathered together where they discuss their opportunities and challenges with the fund, and also give their recommendations on their unique needs.

 

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PHOTOS – Lilian Muli Hanging Out With Mitch Egwang in Kampala

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PHOTOS – Lilian Muli Hanging Out With Mitch Egwang in Kampala

 

15 Nov 2013

 
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Citizen TV’s Lilian Muli has been in Uganda for a few days. The screen siren was lucky to have Tusker Project Fame host Dr. Mitch Egwang show her around.
Here are some photos from Kampala.

They were hanging out at Maurice Kirya’s coffee shop at the Garden City Mall.

© nairobiwire.com

– See more at: http://www.nairobiwire.com/2013/11/photos-lilian-muli-hanging-out-with.html#sthash.R7f5USLX.dpuf

Aside

 

Young investor turns passion for business into big success

By staff 04/04/2012 18:00:00 // Business | Young investor turns passion for business into big success
 

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Business Developer Martin Njuguna during the interview at his office in Nairobi on April 3, 2012. Photo/BILLY MUTAI  

By JOSHUA MASINDE jmasinde@ke.nationmedia.com
Posted  Thursday, April 5  2012 at  00:00

His life at the University of Nairobi heralded his path as a budding entrepreneur. Martin Njuguna used to sell airtime, earning about Sh600 a day for pocket money.

The computer science student would also develop websites for acquaintances and small business for a fee.

Mr Njuguna did not know exactly know how to start off after school, but he was sure that he did want to get into formal employment. All he wanted to do was run his own business. And from his experience at the university, he knew that he could.

His experience as president of the Students in Free Enterprise group also boosted his understanding of the dynamics of operating a profitable business.

Students in Free Enterprise teaches small business in Nairobi management practices, helping some of them to turn around their companies.

“The impact we had on those small businesses was one of the main motivation for starting Digital Vision. The profits of many small businesses we interacted with inspired me,” the 29-year-old businessman told Money in his office at Upper Hill, Nairobi. After his graduation in 2006, he established Digital Vision East Africa.

“I started the company with a small capital. I didn’t have an office, just a desktop computer in my small rented house. The work then was creating websites for friends and businesses. Demand for website creation was high then,” he says.

He ploughed back the profits he made building websites into the company and moved to a larger office at View Park Towers the same year, where he stayed until 2008.

He later diversified into providing companies with web-based solutions, business process automation, intranet services, content applications, and data base management systems, all with a focus on the East African region. He also landed a major business contract with the United Nations Development Programme.

“The UNDP project was our first major business contract when we set up their intranet system in Rwanda in 2007. We also landed another contract to develop the intranet and redesign the organisation’s website in their Uganda office in 2008,” Mr Njuguna said.

Digital Vision EA continues to maintain and upgrade the UN agency’s websites.

The company also offers information technology consulting services to corporate organisations, government agencies, and multi-national corporations as well as administering IT systems on the businesses’ behalf. Bitrix, a global IT company developing advanced business communication platforms, is their main partner in provision of software in content management for clients.

“We intend to operate in all the five East African countries in the next two years,” Mr Njuguna says. He estimates his company to be worth at least Sh50 million.

In the first year of operation, the company’s annual turnover was about Sh1 million. Last year, the company made about Sh15 million, with a projection of Sh50 million a year in the next two years.

 

– See more at: http://www.kenyacentral.com/business/22158-young-investor-turns-passion-for-business-into-big-success.html#sthash.CPmAsX2l.dpuf

entreprenuership

Young entrepreneurs are changing the face of Kenya.This is comprehensive list of 10 young Kenyans who are making the most dramatic impact across the country.

Cut across Real Estate, Financial Services, Manufacturing,  Tech, Green tech and Agriculture, this young entrepreneurs, disruptors and innovators featured on this list are impatient to change Kenya. Together, they represent the entrepreneurial, innovative and intellectual best of their generation.

This young Kenyans are solving problems like healthcare and electricity shortages, proffering innovative solutions to waste management, building virtual and physical communities and creating lots of jobs. A few of them are manufacturing the foods we love,  and some are developing some cool apps for mobile phones across Kenya.

Of course, this list is by no means official or exhaustive, but this is the closest you’ll get to a definitive list.

Lorna Rutto

Green Tech Entrepreneur, Founder, EcoPost

Lorna Rutto

Lorna Rutto

Lorna Rutto, 28 is the founder of EcoPost, a profitable social enterprise which manufactures aesthetic, durable and environmentally friendly fencing posts using plastic waste, a more environmentally friendly alternative to timber. EcoPost collects this plastic waste (such as polypropylene and polyethylene) and manufactures fencing posts from it. Rutto has earned international acclaim for her efforts in providing an alternative waste management solution to Kenya’s plastic menace.

 

Kimiti Wanjaria & Ian Kahara

Founders, Serene Valley Properties

Kimiti Wanjaria & Ian Kahara

Kimiti Wanjaria & Ian Kahara

Both in their late 20s, Kimiti Wanjaria and Ian Kahara are part of a group of four co-founders of Serene Valley Properties (SVP), a Real Estate development company in Nairobi that constructs and sells residential properties to Kenya’s ever-growing middle class. SVP is behind the development of Sigona Valley project, a KSh350m (US$4.2m) gated residential community outside Nairobi.

 

Evans Wadongo, Kenyan

Chairman, SDFA Kenya

Evans Wadongo

Evans Wadongo

Wadongo, a 26 year-old Kenyan engineer designed a solar-powered LED lantern called MwangaBora (Swahili for “Good Light”), an invention which is fast replacing smoky kerosene lamps and firelight in rural Kenya. Wadongo has been distributing thousands of these lanterns throughout rural Kenya where there is little or no electricity. His organization, Sustainable Development For All (SDFA) sponsors an empowerment initiative that teaches poor Kenyans how to reproduce these solar lanterns and sell for profit.

 

Cosmas Ochieng

Founder, Ecofuels Kenya

Cosmas Ochieng

Cosmas Ochieng

Cosmas Ochieng, a 26 year-old Kenyan entrepreneur runs Ecofuels Kenya, an East Africa firm which produces environmentally friendly, green biofuels and organic fertilizers from renewable indigenous sources such as the croton nut.

 

 

 

Eric Muthomi

Founder, Stawi Foods & Fruits

Eric Muthomi

Eric Muthomi

The 26 year-old Kenyan entrepreneur is the founder of Stawi Foods and Fruits, an innovative start-up which procures bananas from smallholder farmers in rural Kenya and processes them into banana flour.

 

 

 

Joel Mwale

Founder, Skydrop Enterprises

Joel Mwale

Joel Mwale

 

Mwale who is 20 years old runs SkyDrop Enterprises, a rainwater filtration and bottling company which produces low-cost purified drinking water, milk and other dairy products in Kenya. Mwale founded Skydrop in December 2009 and the company now employs over 20 people.

 

Mark Kaigwa