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President William Ruto on Thursday arrived at Kenyatta Stadium in Machakos to officially roll out the NYOTA Project Business Start-Up Capital programme.
The President, accompanied by Deputy President Kithure Kindiki, is presiding over the disbursement of Sh147.5 million to young entrepreneurs from Machakos, Kitui and Makueni counties.
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State House said the initiative will support 5,901 youths, with each beneficiary receiving Sh25,000 in the first phase to either start or grow their businesses.
Of the initial amount, Sh22,000 will be sent directly to the beneficiaries’ Pochi la Biashara mobile money wallets, while Sh3,000 will be deposited into the Haba na Haba savings account.
The savings component, managed by the National Social Security Fund (NSSF), is intended to encourage a culture of saving among young entrepreneurs.
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In the second phase of the programme, beneficiaries will receive another Sh25,000, raising the total start-up funding under the NYOTA initiative to Sh50,000.
Officials said the programme is designed to strengthen youth-owned enterprises, stimulate local economies and generate employment opportunities across the three Ukambani counties.
