The government has unveiled the draft Youth (Amendment) Bill, 2024, which proposes the establishment of an enhanced credit fund aimed at tackling youth unemployment.
The bill, currently undergoing public participation, seeks to provide accessible financial resources to support entrepreneurship, innovation, and sustainable livelihood projects while also fostering capacity-building programs for young people.
The proposed fund will offer grants, loans, and other financial assistance to youth-led enterprises. In addition, it will promote training in financial literacy, business management, and technical skills, helping young people thrive in today’s job market.
According to George Mbogo, Director for Youth in charge of Entrepreneurship and Skill Development at the State Department for Youth Affairs, the proposed fund offers a more comprehensive approach than current initiatives.
The new fund will acquire the assets, liabilities, rights, obligations, and the undertakings of the Youth enterprise fund.
“The new fund is more enhanced and comprehensive because the current one emphasises the enterprises of the young people, but in the proposed fund, the youth will be able to formulate proposals and get assistance in terms of capacity building and resources,” Mbogo explained.
The bill also proposes creating an office for a youth registrar, tasked with coordinating and streamlining youth activities across the country.
“Currently, almost everybody says they are doing youth work, and at times there is a lot of disorganisation. With this bill, we will be able to streamline, organise, and coordinate activities specifically tailored to the youth,” Mbogo added.
The bill emphasizes the importance of aligning education and skills training with labor market demands, while also introducing safety nets to prevent youth from falling into poverty. If passed, it is expected to empower young people, foster innovation, and better prepare them for the evolving job market.
“A number of our young people are idle. They need to be active and they also need to be compensated, which means being involved in an economic activity where they are also earning which will help them at the end of the day,” Mbogo said.
