Kenyan President William Samoei Ruto has announced the government’s commitment to providing capital for numerous small businesses. The government has adopted a grassroots approach to rejuvenate the nation's economy.
Ruto states that over 1,100 small enterprises in Nairobi were supported as part of their initiative to uplift those affected at the grassroots.
“But we are not stopping there. Hundreds of thousands of small enterprises across the country are being supported with tools, equipment and funds to drive their businesses because every hustler matters,” says Ruto.
Despite Kenya being one of East Africa's leading economies, with GDP growth of 4.9% observed in the first quarter of 2025, the poverty rate stands at approximately 39.8%.
Ruto announced that 70 youth in each of Kenya’s 1,450 wards will receive 50,000 Kshs in September to enhance their business ventures.
“Beginning next month, 70 young people in each of our 1450 Wards will receive Sh50,000 each to start and boost their business in a joint programme between the Government and the World Bank,” adds the head of state.
In 2024, there was a youth unemployment rate of 12.7%, with 13.4% of young people aged between 15 and 24 remaining out of work.
Projections suggest that youth unemployment may escalate to 7.23% in 2025, resulting in around 1.95 million individuals being without jobs.
The primary factors contributing to unemployment include social and economic issues such as poverty, crime, and religious extremism, as highlighted by the Shakahola incident.
