The Kenya Private Sector Alliance (KEPSA) has launched an entrepreneurship program that is expected to create at least one million jobs in the next one year.
Speaking on Monday October 31 at the launch, Deputy President Rigathi Gachagua thanked the business community for working with the government to solve the country’s youth unemployment problem.
“Today I am honored to preside over the launch of the Kenya Youth Employment and Entrepreneurship Accelerator Program. The youth remain central to our Government’ s agenda to improve the lives of the millions of youth around the country, “
” As a Government, we will provide the necessary support to take the youth closer to their collective dream of a better future. This fund and the partnership with the Kenya Private Sector Alliance will go a long way towards giving the youth an equal chance at life. ” The DP stated.
Youth unemployment in Kenya is estimated to be 38.9%, with an estimated 800, 000 young people entering the labor force each year from higher education institutions.
“Our economy has not kept pace with the supply of new jobs for our youth. Experts have warned us about the ‘ youth time bomb’ caused by the jobless youth bulge, ” said the Deputy President.
The Kenya Youth Employment and Entrepreneurship Acceleration Program, according to KEPSA, will make use of technology and digital transformation.
“Our youth will be able to be active participants in the ongoing global digital revolution, ” said DP Rigathi Gachagua.
The DP also stated that the Kenya Kwanza Government is committed to creating a conducive environment for upcoming and established entrepreneurs in order to ensure that Kenya remains an active participant in the ongoing digital revolution.
“Partnerships between the public and private sectors will be critical in providing jobs and opportunities to our youth. ” And the Kenya Kwanza government will create a welcoming environment to ensure this,” Gachagua stated.