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YOUTH ENTERPRISE DEVELOPMENT FUND (WEDF)

Background

The Youth Enterprise Development Fund (YEDF) was introduced in 2006 as part of the government’s response to high levels of unemployment amongst young
people in Kenya. Planning surveys indicate that formal employment can only absorb 25% of the 500,000 young people joining the labour force in Kenya annually. 67% of unemployed Kenyans are youth below the age of 30 years while 45% are below the age of 24 (figures from 2006). The government puts emphasis on the micro-enterprise sector as a reliable creator of employment opportunities. The fund is therefore meant to finance small and micro-enterprises to create jobs for young people.

The fund was gazetted by the Minister for Finance on the 8th of December 2006 and launched on the Pt of February 2007. It is implemented under the general direction of the Ministry of State for Youth Affairs. It is important to note that at the time of writing this revised edition of this handbook, there isn’t as yet a comprehensive policy and legal framework for this fund. A lot of areas on its form, character and operations are still being developed by the Ministry of State for Youth Affairs. The process of defining the policy and legislative framework of the fund can benefit from the experiences of the youth who access the fund. The youth must therefore take a very active interest in this fundand make applications to benefit from it in order to use their experiences to influence the final long term policy and legal framework for the fund.

Objectives of YEDF

• To provide loans to existing micro finance institutions, and registered nongovernmental organizations involved in micro financing and savings and credit organizations for onward lending to youth enterprises

• To attract and facilitate investments in micro, small and medium enterprises oriented commercial infrastructure such as businesses

• To support youth oriented micro, small and medium enterprises to develop linkages with large enterprises

• To facilitate marketing of products and services of youth enterprises in both domestic and international markets

• To facilitate employment of youth in the international labour market

Structures of the YEDF

Board of Directors

The YEDF is overseen by a Board of Directors appointed by the Minister responsible for Youth Affairs. The Board has one member appointed as Chair.

Functions of the Board

• Advising government on suitable legislation for Youth Enterprises Development
• Advising government on policy guidelines related to the Youth Fund
• Approving, reviewing and supervising the Fund’s programmes
• Reviewing and assessing the Fund’s impact as it seeks to meet its objectives
• Advocating and promoting the Fund



District YEDF Committee
For the first year of the hind, the District was used as a umt of fund allocation for funds channelled through Financial Intermediaries. Disbursement of small interest-free loans is however done at the Constituency level.

At present, the District YEDF comprises of the following:
• District Commissioner - Chairman
• District Youth Development Officer - Secretary
• District Social Development Officer
• District Youth Training Officer
• Chairperson, Maendeleo ya Wanawake
• Two Youth representatives (Male & Female) not serving in any divisional Committee
• Two representatives of main religious faiths in the district
• Representative of a major civil society organization in the district

Responsibilities of the District YEDF Committee

1. Publicize the youth enterprise scheme to communities through all available avenues in the district

2. Issue guidelines to set out fixed meeting dates for the Divisional YEDFC and the District YEDFC

3. Allocate and publicise funds available to each constituency covered by the Divisional YEDFC

4. Involve the youth in decision making in the district

5. Ensure availability of loan forms at all levels in the district

6. Validate, carry out technical evaluation and approve proposals from Divisional YEDFC within the set time schedule

7. Sensitize the communities and the youth in the district on the importance of loan repayment

8. Undertake an open and transparent proposal evaluation
9. Ensure equity and fairness with regard to Youth Fund undertakings
10. -Disburse funds to successful youth groups within the set deadline

Responsibilities of the District Youth Officer (DYO)

The responsibilities of the District Youth Officer are to;
• Facilitate formation of District YEDF Committee in accordance with the provide guidelines
• Guide the Divisional Youth Officers to form Divisional YEDF Committees in line with the divisional guidelines
• Receive and register proposals forwarded from the Divisional YEDF Committee .

• Facilitate and mobilize committee meetings
• In consultation with District YEDF, set and communicate in writing the deadlines for receiving, recommending and approving proposals at divisional and district levels
• Coordinate all training and public education activities relating to the Youth Fund in the district
• Provide feedback to all unsuccessful groups
• Monitor and report on the youth fund activities
• Identify possible fund disbursement partners in the district where none is in place to provide financial services
Divisional YEDF Committee

This is made up of:

• The District Officer
• The Divisional Youth Officer
• Community Development Assistants
• Two representatives of the dominant faith-based organizations in the division
• Two youth representatives (Male and Female)• The local area Member of Parliament (as an Ex-Offlcio member of the Committee)
A public-private partnership approach is employed in the management of the fund. This involves a relationship between the government, civil society and private sector with different roles as follows:

• The Government provides funding and an enabling environment through policy and regulatory reforms as well as infrastructure for investment

• Development partners provide technical assistance to both government and financial institutions and supplementary contribution to the fund

• Financial institutions utilize their technical capacity, experience and infrastructure to establish youth funds and provide loans through their wide institutional infrastructure to youth enterprises across the whole country and ensure the recovery of the loans

• Civil society organizations sensitize youth on the existence and operations of the fund, provide them training on institutional develop ment and business skills, and also contribute monies to the fund

• Private organizations contribute to the fund through cash donations, special bonds and commercial paper (instruments of lending to the Government)
• Private organizations also participate in establishing and implementing a national internship and attachment programme for youth.

Fund allocation

The District was used as the development unit of fund allocation for the first year for funds channelled through financial intermediaries. The Constituency was used as unit of allocation for non-interest bearing loans given to youth groups. Half of the monies from the fund is divided equally among all districts whilst the other half is distributed equitably on the basis of the number of young people in each district

In the 2006/2007 financial year Kshs. 420 million was allocated to the 21.0 constituencies as a response to:

• Remoteness of some regions of the country

• Absence of suitable financial intermediaries in some remote locations

• The need to accommodate very poor youth who may not be able to access intermediary institutions

• Incapacity of some youth groups to meet financial institutions loan requirements

Disbursements from the fund are done in two complimentary ways:

1. The Constituency Youth Enterprise Scheme (C-YES)
2. Onward lending facility with flexible terms by intermediary institutions

The Constituency Youth Enterprise Scheme [C-YES]

The scheme was established in order to provide funding for youth enterprises in all constituencies. It relies on the social development structures on the ground for management including recovery of loans. Divisional Social Development Committees are charged with the responsibility of identifying and recommending youth groups for funding. The District Social Development Committees have an oversight role in management of the fund.

C-YES targets youth groups whose enterprises require some development before they can qualify for consideration by Financial Intermediaries. It targets youth enterprises within the constituency which meet the criteria of having been in existence for at least three months. The youth groups submit proposals to the Divisional Social Development Committee through Youth Officers or the Constituency Office. The Divisional Social Development Committee receives and evaluates the proposals and submits approved proposals to the District Social

Development Committees for funding

Funding for youth groups is based on sound business proposals. Groups can receive funding up to a maximum of Kshs. 50,000. A recipient grql4p must have a bank account. Funds are disbursed. by the District. Social Development Committee in the respective youth group’s name. Loans extended to the groups are supposed to be repaid in instalments within twelve months after a grace period of.3 months. No interest is charged on the loans, but there is an administrative fee of a maximum of 5% of the loan approved. Repayment of loans is done to the District Social Development Committee account.

Loan application procedures

Application forms for funding are supposed to be collected from the Locational Social Development Committee, a Social Development Assistant (SDA), the District Social Development Officer or downloaded from the website of the Ministry of State for Youth Affairs. Completed forms are certified by a Social

Development Assistant and forwarded to the Divisional Social Development Committee (SDC), which screens and assesses proposals in line with guidelines. The Divisional SDC forwards recommended proposals in order of merit to the District Social Development Committee. The District SDC conducts further assessment of the proposals, including their financial and technical viability, before a final approval for funding.

Assessment criteria include:

• Registration status of the group (must be a registered group)
• Whether the group has been m existence for at least three months
• Whether the proposal is business oriented plan
• Whether the group operates an active bank account
• Whether the group has a recommendation from the local SDA or the secretary of the
Locational SDC

Loan recovery mechanism

Group leaders are supposed to make written guarantees for loans. The SDA or secretary of Locational SDC assists in recovering loans within their locality. The group members are certified by a SDA and the secretary of the Locational SDC.

2. On lending with flexible collateral

This is the component of the fund that is handled by Financial Intermediaries (Fl). It targets both groups and individuals in the district. The FIs consider applications and approve loans depending on the nature of the group’s or individual’s business and the Fl’s lending terms. They require identification details such as a registration certificate for a group, personal identification documents for an individual, and a bank account.
The following are the important points to note for applicants:

1. Application forms are accessed through the preferred FT

• Facilitate and mobilize committee meetings
• In consultation with District YEDF, set and communicate in writing the deadlines for receiving, recommending and approving proposals at divisional and district levels
• Coordinate all training and public education activities relating to the Youth Fund in the district
• Provide feedback to all unsuccessful groups
• Monitor and report on the youth fund activities
• Identify possible fund disbursement partners in the district where none is in place to provide financial services

Divisional YEDF Committee
This is made up of:
• The District Officer
• The Divisional Youth Officer
• Community Development Assistants
• Two representatives of the dominant faith-based organizations in the division
• Two youth representatives (Male and Female)
• The local area Member of Parliament (as an Ex-Offlcio member of the Committee)

A public-private partnership approach is employed in the management of the fund. This involves a relationship between the government, civil society and private sector with different roles as follows:

• The Government provides funding and an enabling environment through policy and regulatory reforms as well as infrastructure for investment

• Development partners provide technical assistance to both government and financial institutions and supplementary contribution to the fund

• Financial institutions utilize their technical capacity, experience and infrastructure to establish youth funds and provide loans through their wide institutional infrastructure to youth enterprises across the whole country and ensure the recovery of the loans

• Civil society organizations sensitize youth on the existence and operations of the fund, provide them training on institutional development and business skills, and also contribute monies to the fund

• Private organizations contribute to the fund through cash donations, special bonds and commercial paper (instruments of lending to the Government)

• Private organizations also participate in establishing and implementing a national internship and attachment programme for youth.

• Facilitate and mobilize committee meetings

• In consultation with District YEDF, set and communicate in writing the deadlines for receiving, recommending and approving proposals at divisional and district levels

• Coordinate all training and public education activities relating to the Youth Fund in the district

• Provide feedback to all unsuccessful groups

• Monitor and report on the youth fund activities

• Identify possible fund disbursement partners in the district where none is in place to provide financial services

Divisional YEDF Committee

This is made up of:
• The District Officer
• The Divisional Youth Officer
• Community Development Assistants
• Two representatives of the dominant faith-based organizations in the division
• Two youth representatives (Male and Female)
• The local area Member of Parliament (as an Ex-Offlcio member of the Committee)

A public-private partnership approach is employed in the management of the fund. This involves a relationship between the government, civil society and private sector with different roles as follows:

• The Government provides funding and an enabling environment through policy and regulatory reforms as well as infrastructure for investment

• Development partners provide technical assistance to both government and financial institutions and supplementary contribution to the fund

• Financial institutions utilize their technical capacity, experience and infrastructure to establish youth funds and provide loans through their wide institutional infrastructure to youth enterprises across the whole country and ensure the recovery of the loans

• Civil society organizations sensitize youth on the existence and operations of the fund, provide them training on institutional development and business skills, and also contribute monies to the fund

• Private organizations contribute to the fund through cash donations, special bonds and commercial paper (instruments of lending to the Government)

• Private organizations also participate in establishing and implementing a national internship and attachment programme for youth.

Fund allocation

The District was used as the development unit of fund allocation for the first year for funds channelled through financial intermediaries. The Constituency was used as unit of allocation for non-interest bearing loans given to youth groups. Half of the monies from the fund is divided equally among all districts whilst the other half is distributed equitably on the basis of the number of young people in each district.

In the 2006/2007 financial year Kshs. 420 million was allocated to the 21.0
constituencies as a response to:

• Remoteness of some regions of the country
• Absence of suitable financial intermediaries in some remote locations
• The need to accommodate very poor youth who may not be able to access intermediary institutions
• Incapacity of some youth groups to meet financial institutions loan requirements

 Development Committee account.

Loan application procedures
Application forms for funding are supposed to be collected from the Locational
Social Development Committee, a Social Development Assistant (SDA), the
District Social Development Officer or downloaded from the website of the
Ministry of State for Youth Affairs. Completed forms are certified by a Social
Development Assistant and forwarded to the Divisional Social Development
Committee (SDC), which screens and assesses proposals in line with guidelines.
The Divisional SDC forwards recommended proposals in order of merit to the District Social Development Committee. The District SDC conducts further
assessment of the proposals, including their financial and technical viability, before a final approval for funding.

Assessment criteria include:
• Registration status of the group (must be a registered group)
• Whether the group has been m existence for at least three months
• Whether the proposal is business oriented plan
• Whether the group operates an active bank account
• Whether the group has a recommendation from the local SDA or the secretary of the

Loan recovery mechanism

Group leaders are supposed to make written guarantees for loans. The SDA or secretary of Locational SDC assists in recovering loans within their locality. The group members are certified by a SDA and the secretary of the Locational SDC.

2. On lending with flexible collateral
This is the component of the fund that is handled by Financial Intermediaries (Fl). It targets both groups and individuals in the district. The FIs consider applications and approve loans depending on the nature of the group’s or individual’s business and the Fl’s lending terms. They require identification details such as a registration certificate for a group, personal identification documents for an individual, and a bank account.

The following are the important points to note for applicants:
1. Application forms are accessed through the preferred FT

Devolved Funds and Development
2. Completed application forms are submitted to the respective Fl
3. The Fl makes assessment of business plan for viability
4. Verification by District Youth Officer may be required by the FT
5. Recipients may be required to attend a training programme
6. Loan repayment period and instalments are agreed between the recipient and the FT
7. Interest on loans is on a reducing balance
8. There is a 3 months grace period before loan repayment starts
9. Loan amounts exceeding Ksh. 500,000 require approval of the Fund’s national Advisory Board


 

 


 

                                 

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