Kenya's Deputy President Geoffrey Rigathi Gachagua said in the Kenyan capital of Nairobi that the Kenya Youth Employment and Entrepreneurship Accelerator Program (K-YEEAP) initiative seeks to unlock the potential of the small and medium enterprises through tailored support services that allow them to grow and create jobs for young people.
Gachagua said the program will also leverage technology and digital transformation to scale up the businesses.
Gachagua revealed that youth unemployment in Kenya is estimated at 38.9 percent with an estimated one million young people getting into the labor market every year from academic institutions.
Flora Mutahi, the chairperson of the Kenya Private Sector Alliance, said the initiative is expected to transform the youth labor market by contributing relevant evidence and data to addressing policy bottlenecks that impede accelerated job creation in the private sector.
Mutahi added that the target beneficiaries are youth in low-resource settings.
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