Youth Enterprise and Development Fund (YEDF)
Youth Enterprise and Development Fund (YEDF), What to Know About YEDF
Established in 2006 through Legal Notice No. 167/2006 under the Public Financial Management Act, the Youth Enterprise Development Fund (YEDF) was aimed at fostering employment opportunities for youth through enterprise development.
In 2007, it underwent a transformation into a State Corporation under the Ministry of State for Youth Affairs, as per Youth Enterprise Development Fund Legal Order No. 63 of 2007.
Presently, it operates under the umbrella of the State Department for Youth Affairs and the Creative Economy. Serving as one of the government’s initiatives to boost youth employment, it stands as a flagship project within the Social Pillar of Kenya Vision 2030. Tasked with promoting enterprise development, the Fund plays a crucial role in enhancing economic opportunities and fostering youth participation in nation-building.
What YEDF Offers
I. GROUP LOANS
a. Stawi loan Shs. 100,000- 1Million
b. Smart loan Shs. 25,000 – 200,000
II. INDIVIDUAL LOANS
a. Vuka Start up Shs. 100,000 – 500,000
b. Vuka Expansion Shs. 100,000 – 5Million
c. Vuka Asset Financing Shs. 100,000 – 5Million
d. Salaried Shs. 50,000 – 1Million
e. Savings-based Shs. 50,000 – 1Million
b. Agri – Bizz Shs. 100,000 – 5Million
c. Talanta Shs. 100,000 – 2Million
d. LPO/LSO Shs. 100,000 – 5Million
e. Vijana Baharia Shs. 100,000 – 200,000
![](https://dailybrief.co.ke/wp-content/uploads/2024/06/baringo1-1-1280x666-1-1024x533.jpg)
Other Products offered by YEDF
1. BID BOND AND LPO/LSO FINANCING
YEDF is offering Bid Bond and Local
Purchase Order (LPO)/Local Service Order (LSO) financing to youth participating
in government tenders. The loan is available to individuals, registered groups,
partnerships and companies owned and run by the youth.
2. BUSINESS EXPANSION LOAN (VUKA)
The loan is advanced to youth who have
existing businesses and are able to provide security. The objective of the loan
is tp provide friendly large-scale financing for business expansion. Applicants
may be individual, partnerships or limited companies.
Youth Urged to Apply for Youth Enterprise and Development Fund (YEDF)
It is recommended that young people in Busia County apply for the Youth Enterprise and Development Fund (YEDF) and use the money they get to better themselves, find better jobs, and enhance their quality of life.
Speaking at their offices, Mr. Edgar Akide, the local assistant county credit officer, encouraged young people to come in and apply for funding on an individual or group basis.
Akinde stated, “I am urging the youths to visit our office to know how to apply and get these funds because this is their money.” She explained that the government was intervening to make sure the youth engaged in income-generating activities like as farming, entrepreneurship, and other ventures that would help them develop as individuals.
Additionally, Akide urged loan recipients to make sure they make timely payments so that others can benefit.
You will benefit from an increase in your loan limit if you make your payments on time. In addition, it will enable others to gain from the funds you have contributed,” he stated.
He went on to say that 70% of the loans taken out had been paid back in full. This was a favorable outcome of the loan payment process.
Mr. Silas Baraza, an additional Assistant County Credit Officer, stated that the majority of young people in the county had profited from the program, using the textile-dealing Auki youth group in Samia Sub County as an example.
This group manufactures uniforms for schools. We have provided them with money and assisted them in promoting their goods. He stated, “They have provided uniforms to numerous schools, such as Sigalame High School and Butula Boys.”
In Other News: Gov’t Lists Uhuru’s Retirement Benefits
How to Apply for Youth Enterprise and Development Fund (YEDF)
1 Comment
Pingback: WHO Internship Programme (May 2024) Open for Application - The Daily Brief