President William Ruto has ordered the introduction of a two-year business permit waiver for young entrepreneurs benefiting from the NYOTA programme, in a move aimed at easing the cost of starting and growing businesses.
Speaking during the release of the programme’s second round of funding at the Ulinzi Sports Complex, the President directed the Intergovernmental Budget and Economic Council to work with county governments to roll out the waiver.
Ruto said the measure is intended to eliminate regulatory hurdles that often hinder youth-owned enterprises after receiving financial support. He argued that young businesses should be allowed sufficient time to stabilize before being subjected to the full range of licensing and compliance costs.
The Head of State noted that the progress made by NYOTA beneficiaries demonstrates the potential of young entrepreneurs when given access to funding, adding that government efforts must now focus on creating an environment that allows their businesses to thrive.
The proposed waiver is expected to reduce the financial burden on participants in the programme while encouraging the growth of youth-led enterprises across the country.
