The Kenya Private Sector Alliance (KEPSA) has committed to create one million jobs for youth and women annually until 2027 through industry-backed programme launched Monday.
Through the Kenya Youth Employment and Entrepreneurship Accelerator Program (K-YEEAP) the private sector lobby group says it will identify new and under-served sectors with the potential decent and sustainable jobs within five years.
The program aims to support the growth of 200,000 small businesses while catalyzing the development of 10,000 start-ups through the creation of 47 County Business Hubs.
Speaking during the launch of the initiative, Deputy President Rigathi Gachagua said the Kenya Kwanza will be proactive in supporting job creation as part of its agenda under the Plan which has already commenced works to establish the Ksh 50 billion Hustler Fund.
“The Kenya Kwanza Government is committed to reducing bureaucracies, to reduce the cost of production and doing businesses online and offline. This is because we understand the importance of a friendly business environment for upcoming and established entrepreneurs. We will also encourage dialogue and facilitate cross-pollination of ideas for better results,” said DP Gachagua.
KEPSA Chief Executive Officer Carole Kariuki said KEPSA will leverage its industry knowledge and access to the supply, policy, and demand sides of the labor market to facilitate access to finance and markets, business coaching and mentorship while creating linkages for small businesses with large companies’ supply chains.
“The main goal 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,” added Kariuki.
Through the program, KEPSA will also pursue relevant and market-oriented skills for industry transformation by closely collaborating with the Technical and Vocational Education and Training (TVET) ecosystem.
Additionally, K-YEEAP will also support public sector digital transformation for effective service delivery and job creation, increase digital and digitally-enabled job opportunities for young people, and help small businesses with their digital transformation.
The programme is further expected to help the government address youth unemployment in Kenya which is estimated at 38.9pc on the backdrop of an estimated 1 million young people who join the labour force annually from institutions of higher learning.
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