Kakamega County has been ranked among the worst counties in the repayment of Youth Development Enterprise Fund. This was disclosed by the Fund national chairperson Mr Ronald Osumba while in Likuyani Sub County where he was the chief guest during the official unveiling and launching of Daisy Nyongesa Community Resource Centre at Binyenya village.
“Kakamega county trails in the youth enterprise funds repayment rate at 44%,” revealed Osumba who observed it was in sharp contrast with a county in central Kenya that had already hit 115% repayment rate.
Osumba said most counties in former Western, Nyanza and Rift Valley provinces were doing badly when it comes to repayment of the interest fee compared to Central and Eastern.
The official condemned the poor repayment rate, citing that it denies other deserving youths access to funds from the same kitty.
Osumba explained the objective for YEP was to assist the national government in addressing challenges facing the growing population of employable youth by offering it the opportunity to access start-up funds to economically viable commercial activities.
“Since the inception of free primary and affordable secondary education, the country has been churning out close to 1.2 million graduates and school leavers into the job market annually, thus the idea behind YEP, which was established in 2007,” said Osumba.
According to the YEP boss, the country’s economy can only create about 50,000 and 75,000 formal and informal jobs respectively, “thus the need to address the plight of the remaining half a million through programmes such as the YEP,” added Osumba.
Osumba used the forum to issue a stern warning to corruption cartels who he accused of embezzling funds from the kitty.
“We have already written to the Assets Recovery Agency with a view of ensuring we have recovered all the youth enterprise funds that have gone into wrong pockets,” revealed Osumba who vowed never to be cowed in the effort.
Osumba encouraged officials in charge of the kitty in various county and sub county offices to ensure all beneficiaries, both at the group and individual levels, have repayment money given to them.
He praised Nominated Senator Daisy Nyongesa for establishing the resource centre, saying it will go a long way in helping area residents, especially youth, access vital information for economic growth and development.
Homabay Senator, Moses Otieno Kajwang’ and Kabondo Kasipul Member of Parliament, Silvance Osele Onyango graced the occasion.