Youths in Nairobi have receive the biggest share of Youth Enterprise Development Fund (YEDF) being allocated across the 48 counties in the country.
Out of the total Sh11.9 billion lent out to 886, 313 youths countrywide over the period of 10 years, young people in the Kenyan capital have been since the biggest beneficiaries, receiving Sh2.3 billion for various loan products, the report read.
Kiambu County came second, having received loans worth Sh894 million, followed by Nakuru (Sh746 million), Meru (Sh690 million), Nyandarua (Sh491 million), Uasin Gishu (Sh452 million), Murang’a (Sh427 million and Mombasa (Sh410 million).
Youths in Samburu County received the least amount at Sh11 million, followed by those in Mandera (Sh17 million), Tana River (Sh22 million), Marsabit (Sh23 million) Lamu (Sh24 million) and Wajir Sh27 million).
According to this latest report, a total of Sh1.7 billion in loans has been extended to 33,714 youth groups in Nairobi through financial intermediaries while 349 groups that won Government tenders have benefited from Sh205 million in trade financing.
“Despite the high uptake of loans, YEDF still experiences defaults, mainly as a result of lending to a clientele that is perceived to be risky. This eats into the money available for lending,” the report found.
The fund could do better as much as it has registered worthwhile progress, Ronald Osumba the Youth Fund chairman believes
