KCB Foundation has partnered with Nyamira County to jointly contribute KShs. 30 million, on a 1:1 ratio to roll out the KCB Foundation 2Jiajiri vocational youth skilling programme, which seeks to technically equip the youth and create direct and indirect employment opportunities through self-employment and enterprise development.
The deal will also see KCB Foundation and the County provide support to the Micro Small and Medium Enterprises (MSMEs) to access financing through a Fund management proposal to the tune of KSh. 100 million. The partnership will see MSMEs operating within the region benefit from affordable credit facilities, financial literacy training and market linkages Furthermore, the partnership will offer diaspora banking services to Nyamira County citizena living abroad.
Speaking during the signing of the MoU, KCB Foundation Director Mendi Njonjo said, “The operationalisation of the County SME fund is a testament to our commitment to catalyse economic growth and tackle youth unemployment. With Nyamira County on board, we look forward to nurturing the creation of small and medium enterprises run by youth, leveraging on technical vocational skills training and supporting them through single digit loans to start their own enterprises.”
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Through this arrangement, the youth will get an opportunity to be trained in key areas such as automotive engineering, construction, electrical installation, beauty and personal care, domestic services, and agribusiness. It will comprise of classroom training for 3-6 months after which they will sit for the National Industrial Training Authority (NITA) Grade 3 assessment. Consequently, they will be linked to jobs & internships as well as business development services from KCB Foundation.
On his part, Nyamira County Governor Amos Nyaribo noted: “Credit is the lifeline that SMESs need to survive. As such, we have set aside the MSME credit fund because we want to catalyse a healthy local economy that can create jobs and drive liquidity in Nyamira County. I urge all MSMEs to take advantage of this facility to grow their businesses.”
He added that “We have also invested in the 2Jiajiri programme because the youth make up majority of the working-age population in Nyamira, presenting a valuable opportunity to drive empowerment and economic growth. By providing equipping our young people with practical technical skills, we can support the creation of meaningful and sustainable employment.”
Since 2016, the 2Jiajiri programme has created 150,555 jobs and trained 35,195 youth in various technical skills countrywide. Currently, 10,954 youth are under the mentorship wing with the KCB Foundation business development officer. KCB Bank has disbursed 267million loans to support youth owned enterprises and issued 2,225 start up toolkits (tools for trade) to 2Jiajiri participants, with 6,535 businesses trained on financial literacy.
