Ronald Osumba, Youth Enterprise Development Fund (YEDF) chairman speaking at a previous function. [Photo: the-star]
The Youth Enterprise Development Fund (YEDF) has set a side a Sh300 million kitty to enable youth groups in Nyanza region establish fish cages in Lake Victoria.
Ronald Osumba, YEDF chairman said the allocation was part of the national government’s move to create employment at the same time endow youth economically.
Speaking during the launch of a youth peace initiative in Kisumu, he observed that fish farming was the core economic activity in the region and if encompassed fully it could be a gamer-changer in the region’s economy.
He admonished the youth to take advantage of the Youth fund and the fish caging scheme in bid to combat hunger and the high unemployment levels.
He was optimistic that the project will be a plus besides going a long way in boosting deteriorating fish stocks in the lake.
Fish caging has been hyped as the next frontier in aquaculture as countries globally are investing billions of shillings in the new venture.
Osumba assured that the government was dedicated to creating job opportunities for the youth adding that through the youth fund, the youth can now be able to borrow up to Sh20 million to undertake entrepreneurship.
He nevertheless lamented over the poor acceptance of youth fund loans revealing that in the last financial year, Sh400 million was disbursed out of an allocation of Sh900 million.
“This year the fund targets to disburse Sh1.3 billion to youth groups across the country, youth should therefore turn-up and apply,” urged Osumba, Tuesday.
The peace initiative otherwise dubbed Sauti 47 is a partnership between the Ministry of Interior and Coordination of National government, the Youth Enterprise Development Fund and the National Campaign Against Drug Abuse (NACADA).
The drive aims at sensitising the youth to refrain from radicalization activities during the electioneering period.