Focus on entrepreneurship to eradicate poverty – youth told

Kenyan youth have been urged to embrace entrepreneurship as a way of eradicating poverty and addressing the high rates of unemployment.

According to a World Bank Report released in March last year, Kenya is among countries with the highest youth unemployment in the world.

The report titled ‘Kenya Youth Unemployment: Problems and Solutions’, the unemployment rate among young people aged between 15 and 24 stood at 17 per cent.

Family Bank Chief Executive Officer, David Thuku, says that youth should focus more on starting their own businesses and venturing into the innovation sector rather than just looking for white-collar jobs that are already scarce to find.

Mr Thuku further noted that formal employment opportunities have continued to shrink the world over.

Speaking during the graduation ceremony of entrepreneurs at Mount Kenya University in Thika, Mr Thuku noted that the Enterprise Academy at the varsity will play a key role in producing graduates who will directly contribute to the country’s development agenda.

The Graduate Enterprise Academy, which is a brainchild of Mount Kenya University, has seen 14  apprentices undergo three months entrepreneurial training and each given up to Ksh 800,000 to start their businesses.