NAIROBI, Kenya, Oct 31 – The Kenya Private Sector Alliance (KEPSA) has launched a program that targets to create at least one million jobs for the youth and women annually for the next five years.
The program dubbed, Kenya Youth Employment and Entrepreneurship Accelerator Program (K- YEEAP), seeks to incorporate the youth in the socio-economic development of the country and will leverage technology and digital transformation in line with the agenda of the Kenya Kwanza government.
Speaking during the event, Deputy President Rigathi Gachagua noted that the government will provide the needed support to help the youth achieve their dreams.
“I am honoured to preside over this program. The youth remain central to our government’s agenda to improve the lives of the millions of the youth around the country,” said Gachagua.
According to the Kenya National Bureau of Statistics (KNBS), approximately 800,000 young Kenyans enter the labour market every year from universities and other higher institutions of learning.
With the rate of youth unemployment in the market estimated at 38.9 per cent, the country’s economy has however not matched the high demand of creating new jobs to accommodate graduates from different institutions of learning.
“Experts have warned us of the youth time-bomb occasioned by the jobless youth bulge. In fact, 75 per cent of Kenya’s population is below the age of 35 years,” said Gachagua.
KEPSA’s CEO Carole Kariuki noted that the sector will leverage technology and digital transformation to allow the entrepreneurs to scale their businesses as well as support services that will allow the youth to grow and create jobs.
“The main aim of KEPSA is to encourage economic development and job creation in Kenya. This initiative aims to address barriers to youth employment such as demand and absorption capacity creation, given the dual challenges of a growing youth bulge and the systemic bottlenecks that youth face when entering the labour market,” said Kariuki.
The program aims to support the growth of some 200,000 small businesses while catalyzing the development of 10,000 start-ups through the creation of Business Hubs in 47 counties.
In addition to promoting and coordinating private-sector Technical and Vocational Education and Training (TVETs), the program will also connect academia and industry for technical assistance and capacity building, policy and research advocacy as well as dissemination of labour market data like work and career readiness.
