Banks and financial institutions have been challenged to finance young entrepreneurs to start small businesses in an effort to reduce youth unemployment.
Speaking on Saturday at Kenyatta Primary School, Makongeni during a youth's talents show Sam Chege alias MC Sam, an aspiring 2017 Kamenu Ward MCA, said that many banks and other money-lending institutions were slow to extend loans to the youths and thus killing entrepreneurial spirit in them.
"It is very disheartening to see our banks and other financial institutions being sluggish when it comes to giving loans to our youths. They ask them for loan securities they know very well they don't have and can't afford. We would like them to appreciate the role that emerging entrepreneurs are playing in our economy and ease their loan restrictions," Chege said.
Chege, who is also the Thika District Business Association (TDBA) Secretary General, said that Kiambu's and Kenya's economic growth and development is pegged on the ability of young entrepreneurs to be able to venture in the market.
"Young entrepreneurs are bringing new technology, new innovations and fresh ideas in the market. That is what our county and country need to be able to grow further. But when we make it hard for these young people to actualise their ideas our economy may remain stagnant to our detriment," Chege added.
Chege, however, challenged the young entrepreneurs to take advantage of the county-sponsored Biashara Fund and the State's Uwezo Fund which were much easier to apply for and required no securities.
Photo: Young ladies hawking mangoes at a roadside in Kisii Estate. Banks and money-lending institutions have been challenged to ease their loan restrictions to enable youths get loans to start businesses.