Grant youth loans to curb unemployment

Leaders have called on the government to support the youth through giving them loans to invest in meaningful projects, since it is the only cure to soaring unemployment rates in the country.

Thika MP Patrick Wainaina and Gretsa University Vice Chancellor Prof. Wabuke Bibi speaking separately said job opportunities in the country were fast dwindling with Small and Medium investments remaining the main drivers to job creation and development.

Wainaina said the government and leaders should be looking into ways of providing the youth with loans to put up projects that can generate fast money.

“Since getting jobs in the country has proved to be a nightmare, leaders should try empowering the youth with loans to enable them start micro-industries that will not only create more jobs but also spur development,” he said.

The MP was speaking Thursday during a training workshop to over 500 youthful Kiambu women on economic empowerment through his Jungle Foundation.

The Foundation not only trained the young women on financial literacy and the need for investing as groups, but also offered to boost them financially through savings to establish meaningful startups.

This is in efforts to empower the girl child, which he said were at risk of becoming single mothers if not supported through meaningful programmes.

“Unlike men who can join the boda boda or the Jua kali sector once they complete school, girls have limited choices and end up making life mistakes thereby becoming single mothers. They need empowerment, else the country will lose a generation,” he said.

On his part, the VC said allowing graduates to languish in poverty due to joblessness was worrying.

Speaking during the University’s graduation ceremony, Prof. Bibi said giving graduates loans to establish meaningful startups was the fastest way to reduce unemployment rates as well as accelerate development.

He said getting formal employment had proved difficult and the government should come up with alternative ways to tap into graduates’ innovativeness and creativity.

“Getting jobs in this country is now a challenge and the only sure way to end this is by giving graduates loans which they can use to invest in projects that can generate income. They are quite creative and innovative in that the results will be felt in less than a year,” said the VC.