Youth Enterprise Development Fund to transform your agribusiness

Youth Enterprise Development Fund, what is it and why should you care about it?

Kenya, with over 75% of our population below age 35, is taking some crucial steps to boost the sector’s productivity. The government is paying special attention to empowering young agripreneurs considering the country is already facing severe youth unemployment.

As I explained in a previous article, inaccessibility to capital is one of the hurdles to youth agripreneurship in Kenya. Currently, the government is intervening with new financial initiatives to drive youth agri-investment. One such program is the Youth Enterprise Development Fund, which many young people do not know of.

So, what is Youth Enterprise Development Fund?

The Youth Enterprise Development Fund (Kenya) is a youth capacity-building initiative registered as a government corporation under the Ministry of ICT, Innovation, and Youth Affairs. It is an enterprise development agenda and part of the flagship projects of our Vision 2030.

The objective of the Youth Enterprise Development Fund is to spur nation-building, generate income, and create employment for young Kenyans. It does this through empowering young agripreneurs by offering easy and affordable agribusiness development and financial support services.  

What can Youth Enterprise Development Fund do for you?

As I have mentioned, Youth Fund is a project by the government for youth. As an upcoming agripreneur, the initiative can help you to turn your agribusiness idea into a successful agri-enterprise.

If you’re keen on expanding or starting an agribusiness, you can approach Youth Enterprise Development Fund for financing. The agency has a program called “Agri-Biz loan” specifically meant for young Kenyans who are interested in agriculture.

What is the purpose of the Agri-Biz loan?

The Yough Enterprise Fund Agri-Biz loan is intended to help youth agripreneurs to raise capital and purchase equipment for their agribusiness undertakings.

Who can access the loan?

The Yough Enterprise Fund Agri-Biz loan is available to individuals or registered companies, partnerships, or groups that are owned and run by the youth.

How much loan can you get from Youth Enterprise Development Fund?

Through its Agri-Biz project, the Fund gives young people access to an agribusiness loan of up to KE 2 million. The assets you purchase with The Yough Enterprise Fund Agri-Biz loan serve as the security (for loans below KE 300,000). However, if you need a loan above KE 300,000, conventional securities will be needed. A loan management fee of 5% is charged –deducted from the loan amount during disbursement. There is no interest charged on the loan. The repayment period is 3 years.

What are the requirements for Youth Fund agri-biz loan?

Here are the qualifications/requirements to access The Yough Enterprise Fund Agri-Biz loan.

How do I get The Yough Enterprise Fund Agri-Biz loan?

The Fund has their regional offices with representatives in all 47 counties. Learn more about how to apply for an agri-biz loan by directly speaking to Youth Fund’s representative in your county. Check your nearest regional office and representative’s name and contact information here.

 Contact Youth Fund

Tel: 020 241 4423, 020 2211672, +254 723 522841
Email: info@youthfund.go.ke
Facebook: Youth Fund Kenya
Twitter: @YouthFund_Ke
Website: www.youthfund.go.ke

What are other financing options for youth agripreneurs in Kenya?

There are many financial institutions where you can apply for agribusiness or farming loans in Kenya. Visit my other blog post on top financial institutions offering agribusiness loans to farmers in Kenya to discuss who can fund your agribusiness venture. You can also try Safaricom DigiFarm.
Wishing you all the best in your hunt for agribusiness financing. In case you have a question or comment on this topic, don’t hesitate to contact me.

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