DP Gachagua Oversees Launch of KEPSA Youth Employment Program
The Deputy President, Rigathi Gachagua, presided over the launch of Kenya Private Sector Association's K-YEEAP -Kenya Youth Employment Entrepreneurship Accelerator Program- on Monday morning.
"This morning I am honoured to preside over the launch of the Kenya Youth Employment and Entrepreneurship Accelerator Program (K-YEEAP) and Call to Action on the drought situation in Kenya by @KEPSA_KENYA."
The program, an inventive approach to youth employment, hopes to generate 1 million jobs and chances for entrepreneurship for young people and women in the private sector in the next five years; (2023 – 2027).
According to the Kenya Population and Housing Census Report, (2019), the country's youth unemployment rate is 38.9 percent, with over 5.3 million young people unable to find meaningful employment. By 2030, it is anticipated that over nine million young people will be employed.
Gachagua said that young people make up the majority of the population and will have a favorable effect on the nation if they invest.
"75 per cent of Kenya’s Population is below the age of 35 years. We must plan well to turn this Population into a big blessing to this nation by investing in them to reap the Demographic Dividend ahead of Kenya’s Vision 2030, and the Africa Union Agenda 2063," Gachagua said.
K-YEAAP will aim to increase access to supply chain opportunities from big businesses while accelerating and scaling up small businesses through funding, market access, business coaching, and mentorship.
Additionally, it will help with the public sector's digital transformation for effective service delivery and job development, as well as small enterprises' digital transformation for efficient service delivery and job creation.
By collaborating closely with the TVET ecosystem, K-YEEAP will further improve pertinent and market-oriented skills for industrial transformation.
The project also aims to develop 47 County business centres, scale up 200,000 small businesses, and expedite 10,000 start-ups.