Boosting Employment Opportunities in the Informal Sector

Access to finance to grow a business without skills development offered will inevitably lead to failure in business. According to the Kenya Economic Survey (2015), Small and Medium size enterprises (SMEs) constitute 98 percent of businesses in Kenya, contribute 30 percent of jobs as well as 3 percent of the country’s Gross Domestic Product (GDP).

 

In light of this, KCB has signed a partnership agreement that will see youth beneficiaries from KCB Foundation’s 2jiajiri program benefit from training and apprenticeship opportunities with Toyota Kenya, the motor vehicle dealer.

 

KCB Foundation will sponsor youth under its 2jiajiri program to train at the Toyota Kenya Academy to enhance their automotive skills. The aim of the partnership is to encourage young people acquire automotive and business skills that will enable them become employed or employable.

 

Graduates who seek to setup their own mechanical firms will be considered for certification as Toyota Kenya Limited Appointed Service Centre (TKASC). They will also receive funding and business development services from KCB.

 

Speaking at the MOU signing, KCB Group CEO & MD Joshua Oigara said, “We firmly believe that the provision of technical and business skills training, mentorship and internship opportunities as well as affordable asset and capital financing for the youth will translate into the creation of additional jobs every year.”

 

He further urged the government and large private sector players to invest heavily in the informal sector in order to help the sector evolve into a viable source of employment for Kenyan youth. Inevitably, Kenya’s future economic prospects are reliant on how best the country taps into the potential of the young population.

 

KCB Foundation Executive Director, Jane Mwangi, stated that the partnership was an illustration of the value of corporate partnerships, which would be instrumental in the creation of jobs for the 25.5 million Kenyan youth.

 

In addition, the partnership will see youthful entrepreneurs within the agricultural sector benefit from specialized training under Toyota Kenya Foundation’s Agri-preneurship training program provided by the Toyota Kenya Academy.

 

The 2015 Economic Review of Agriculture Report confirms the agriculture sector contributes about 26 percent of the country’s GDP and employs about 75 percent of the population. However, the youth are yet to fully explore agriculture as a source of employment.

 

Early in the year, KCB Foundation signed similar partnerships with Naivas, Amadiva Beauty and Tuskys to offer training opportunities for its graduates.

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