A Special budget allocation to be set aside for youth in Big 4 Agenda – Osumba

The Youth Enterprise Development Plan is negotiating with the state Department of Housing to have at least 10% of the Project for building 500,000 houses envisioned in the Big 4 Agenda allocated to the youth.

 

The Youth Enterprise Development Fund is negotiating with the State department of housing to require contractors to set aside budget for youth owned businesses in the Big 4 Agenda, housing pillar .According to Ronald Osumba, the chairman of the fund, this allocation will be at least 10% of the projected construction cost of the envisioned 500,000 houses.

 

Ronald Osumba was speaking during a business pitching competition organised in Nairobi by Sinapis Organisation, where Lynda Njeru, the Cofounder of YZ-ME International, a sanitary products vending start-up won a 1 million shillings capital injection for her business.

 

“The Big 4 Agenda underpins the president’s commitment to leave no one behind, and a business revolution is coming and I urge our youth to get ready for the opportunities across all pillars in the Big 4 Agenda,” he said, as he explained how the budget for doors would amount to an estimated Ksh.7 billion, at the cost of 2,000 per door for local entrepreneurs. “The Small Businesses Bill will soon be introduced to parliament to protect local start-ups and SMEs from being overburdened with regulatory requirements of established companies,” he added.

 

The plan to build 500,000 houses is expected to increase the GDP contribution by the construction sector from 7% – 14% and create at least 350,000 direct job opportunities that will benefit the youth. This will be in line with the government investment in technical and vocational institutions, to create a skilled labour pool in the market that will drive the Big 4 Agenda.