Youth Enterprise Fund to disburse Sh300 million for overseas job opportunities

BY MYGOV REPORTER 

The Youth Enterprise Development Fund (YEDF) will disburse at least Sh300 million to support youth seeking employment opportunities abroad in the 2024/2025 financial year. 

The Fund states that this initiative aligns with the government’s efforts to place Kenyans in jobs overseas. “Through our migration loan facility, we are removing financial barriers to enable eligible youth to access international job opportunities that were previously out of reach,” said Mr. Josiah Moriasi, the Fund’s Chief Executive Officer. 

According to the CEO, the program has already made a significant impact, disbursing Sh46.4 million in just two months to support 353 youth who have secured employment abroad. 

Moriasi added that the Fund offers zero-interest loans of up to Sh300,000 to individual youth migrants, with only an eight percent management fee and a six-month repayment period.

“These loans cover essential expenses, including airfare, medical examinations, and visa processing fees,” the CEO said.

Additionally, the YEDF provides secured loans of up to Sh5 million to accredited recruitment agents who wish to act as intermediaries, offering a twelve-month repayment period and a competitive two percent processing fee.  

Moriasi added that a flagship initiative under YEDF’s international employment agenda is the ‘Mkulima Majuu’ programme, which connects semi-skilled farm workers from Technical and Vocational Education and Training (TVET) institutions and the National Youth Service (NYS) with agricultural employment opportunities in the United Kingdom. 

Moriasi said this initiative is being implemented through collaboration with the State Department for Diaspora Affairs, TVETA, and HOPS Labour Solutions (UK).

The CEO added the YESA program offers comprehensive support to beneficiaries, including pre-departure training to prepare recruits for work environments abroad. 

Moriasi added that the Fund has formed strategic partnerships with key stakeholders both locally and internationally, resulting in a strong ecosystem that supports youth throughout their international employment journey. 

“This initiative will help reduce unemployment at home while contributing to the country’s economic growth through remittances and skills transfer,” Mr. Moriasi noted.