Centre for Free Market Enterprise (CFME) has called on government to put deliberate efforts aimed at improving youth entrepreneurship in the country.
Speaking to YFM, CFME Executive Director Peter Yakobe said lack of finance and capital are major problems that hinder many youths to venture into entrepreneurship.
“Most of the youth who want to venture into entrepreneurship are recent graduates and youth in the rural areas after their formal education so they do not have capital and any collateral for the loans.”
“Our government and other civil society organizations prefer to give the contracts to the already existing companies who have been in the industry for quite some time,” said Yakobe.
He therefore said time has come for the government to trust the young entrepreneurs that they can deliver by offering them contracts and establishing initiatives like youth finance bank to support them.
“We need to come up with initiative that would empower youth entrepreneurship.”