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KCB launches sh50 billion job creation programme

KCB launches sh50 billion job creation programme

Kenya Commercial Bank (KCB) has today launched an ambitious sh50 billion enterprise development programme geared towards birthing a new cadre of youthful entrepreneurs within the informal sector to ease the country’s unemployment crisis.

The programme dubbed 2JIAJIRI”, is expected to benefit at least 500,000 entrepreneurs in 5 years, thereby creating at least 2.5 million direct and indirect jobs.

KCB Foundation Vocation Skills Scholarship beneficiaries pose for a photo after receiving their certificates during the launch of the KCB Foundation “2jiajiri initiative” at Kasarani. The 2jiajiri initiative programme is aimed at formalizing the informal sector through skilling and up skilling.

KCB Foundation Vocation Skills Scholarship beneficiaries pose for a photo after receiving their certificates during the launch of the KCB Foundation “2jiajiri initiative” at Kasarani. The 2jiajiri initiative programme is aimed at formalizing the informal sector through skilling and up skilling.

KCB Group CEO Joshua Oigara said the main objective is to provide the beneficiaries with the vocational and enterprise development skills necessary to drive employment and wealth creation in selected sectors such agricultural enterprise, automotive engineering, construction, beauty and domestic services.

“We have worked out a comprehensive youth empowerment programme informed by our belief that the youth hold the greatest sway in the pace and trajectory that the East African economy will take into the future,” said Mr Oigara.

The Bank has set aside sh10 billion annually in the next five years towards driving this enterprise development programme over the funds which will be used largely to support small and medium businesses run by the youth.

Abed Karuga an Out Grower with The Hive (right) and KCB Foundation Programmes Manager Bernard Barasa (second right) takes the US Ambassador to Kenya Robert Codec, KCB Group Chairman, Ngeny Biwott and KCB Group CEO Joshua Oigara through some of the Hive Africa products (a KCB Foundation funded project) during the launch of the KCB Foundation “2jiajiri initiative” at Kasarani. The 2jiajiri initiative programme is aimed at formalizing the informal sector through skilling and up skilling.

Abed Karuga an Out Grower with The Hive (right) and KCB Foundation Programmes Manager Bernard Barasa (second right) takes the US Ambassador to Kenya Robert Codec, KCB Group Chairman, Ngeny Biwott and KCB Group CEO Joshua Oigara through some of the Hive Africa products (a KCB Foundation funded project) during the launch of the KCB Foundation “2jiajiri initiative” at Kasarani. The 2jiajiri initiative programme is aimed at formalizing the informal sector through skilling and up skilling.

“We want to dignify the informal sector and give it the skills-set needed to churn the next generation of businesses for the informal sector” he added.

While launching 2Jiajiri—which will be run through the KCB Foundation, KCB Group Chairman Ngeny Biwott said the programme fits well within Kenya government’s resolve to boost youth employment, potentially raising country’s economic prospects.

“We believe that through partnerships with organisations, we can redefine the youth unemployment challenges we are facing. We are committing to changing the youth narrative in the country,” said Mr. Biwott

The programme targets both existing (70 percent) and potential entrepreneurs (30 percent). For existing entrepreneurs, 2Jiajiri seeks to up skill and formalize the technical and enterprise skills of the selected youthful entrepreneurs. Upcoming entrepreneurs will receive technical skills, financial support for startups and business advisory services. Some of them will be linked to work-experience programmes to give them hands-on training while exposing them to market opportunities.

Already, 2,000 youths have begun classes in 89 institutions spread across the country for the various 3-6 months courses. After their training, the graduates will be put under a 12 months incubation programme.

“Entrepreneurship and innovation are an integral part of our DNA. We operate under innovative platforms and with an incubation programme, we will promote ideas, offer mentorship, provide concepts and methods to create an optimal environment for free enterprise,” added Mr Oigara.

Statistics indicate that a total of over 1.3 million new employment places need to be created annually to meet the rising demand for jobs. Practically, it is prudent that the ideal rate of Engineers: Technicians: Artisans is supposed to be 1:13:60 but Kenya is currently at 1:3:13.

 

 


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