KCB Foundation and Toyota Kenya have signed a partnership agreement that will see youth beneficiaries from KCB Foundation’s 2jiajiri program benefit from training and apprenticeship opportunities with the motor vehicle dealer.
Under the partnership, 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.
Youth who benefit from the program and opt to setup their own mechanical firms will be considered for certification as Toyota Kenya Limited Appointed Service Centre (TKASC), provided they meet the set criteria and will receive funding from KCB.
KCB Group CEO and Managing Director Joshua Oigara said, “At KCB Group, 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 added that Kenya’s future economic prospects are reliant on how best the country taps into the potential of the young population. 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.
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. This will go a long way in placing Kenya firmly into the category of countries that enjoy middle-income status.
“In Kenya, it is small and medium size businesses that hold the key to wealth creation; if they are able to grow into large- scale, innovative and formal businesses,” said Jane.
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 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.
Speaking on the immense potential of the agricultural sector, Toyota Kenya Foundation Chairman, Amb. Dennis Awori noted that there would always be demand for agricultural produce and pointed out that what is required is an investment in the development of the agricultural value chain.
“Access to finance is an enabler for any business; however we also need to look into the operational end of business. It’s not just about the money available but also the quality of human resource available. If we do not invest in skills development, then businesses are bound to fail. Through this partnership we can provide access to both skills and finance,” he added.
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, something that can be attributed to the fact that farmers more often than not tended to be underprivileged.