Youth fund spends Sh. 1 billion on Staff.
Kenya youth looking to start or expand businesses will have to seek other ways to finance their trade as the enterprise fund channels sh. 1 billion elsewhere.
A report in parliament by the Auditor general Nancy Gathungu stated that the youth Development Fund instead use the money to travel and salaries.
Gathungu said such expenditure jeopardizes the expandability of the fund and that it should stick to its intended purpose which is extending loans to the youth.
The Auditor general added that in the last four years the YEDF has incurred deficits which has affected the performance as a revolving fund.
The Youth Development Fund is one of the Government’s strategies to address unemployment through Entrepreneurship has supported 2 million Youth with loans worth 13.5 billion.