The Youth Enterprise Development Fund (YEDF) is a state corporation mandated to provide financial and business development support services to youth-owned enterprises.
It was established through the Public Financial Management Act (The Youth Enterprise Development Fund) Regulations (2006), to champion the creation of employment for youth through enterprise development.
In 2007, the Fund was transformed into a State Corporation under the then Ministry of State for Youth Affairs, vide Youth Enterprise Development Fund.
Currently, the fund is domiciled at the State Department for Micro, Small, and Medium Enterprises Development in the Ministry of Cooperatives, and Micro, Small and Medium Enterprises Development led by Cabinet Secretary Simon Chelugui.
Different groups can access the funds from Ksh100,000 to Ksh5 million for different purposes and the loan products are issued at affordable rates.
How to Apply for the Loan
Visit the nearest Youth Fund office
Seek information regarding a suitable loan product
Agree on the suitable entrepreneurship training and pay the appropriate fee
Submit the correctly filled loan application form including the required documentation to the Youth Fund county officer
After verifying the documents, the loan proceeds will be deposited into the bank account.
However, applicants are advised to use the loan for the purposes it was applied for. Further, the applicants are required to repay during the stipulated time.
The loan products form part of other initiatives run by the government to empower different groups in the country.
President William Ruto launched several Hustler Fund loan products to help individuals,groups, and even saccos.
The products were touted to increase financial dependency and also help individuals to create self-employment opportunities.
Despite facing opposition from the Azimio side, Ruto pushed forward with the Hustler Fund agenda which he insisted was a part of his campaign pledges to Kenyans.
