Ruto Announces Creation of New Govt-Owned Bank
The bank will be created before the year ends...
✨ Key Highlights
President William Ruto announced the establishment of a new Youth Enterprise Investment Bank to support youth-led businesses in Kenya. Speaking in Kakamega during International Youth Day celebrations, he stated the bank will provide financing, credit guarantees, and capacity building.
- The bank will be capitalized at Ksh9.75 billion.
- The project aims to be rolled out before the end of 2025.
- The government will also distribute Ksh50,000 each to youth starting businesses through the National Youth Opportunities Towards Advancement (NYOTA) program starting September 2025.
Continue Reading
Read the complete article from Kenyans
Part of the Day's Coverage
President Ruto Announces Youth Bank, Training Project, and Sh163M Fund - August 2025
President William Ruto announced several initiatives aimed at youth employment during International Youth Day celebrations in Kakamega. He announced the establishment of a new Youth Enterprise Investment Bank to provide financing, credit guarantees, and capacity building for youth-led businesses. The government also plans to train 90,000 young people and certify 20,000 others under the National Youth Opportunities Towards Advancement (NYOTA) Project to combat unemployment. Additionally, President Ruto issued a Sh163 million cheque to support 816 young Kenyans traveling abroad for work under the Kazi Majuu programme, with the funds set to cover airfares, visas, and settlement costs.
