Kenya Climate Innovation Center has signed a Memorandum of Understanding (MOU) with Youth Enterprise Development Fund (YEDF) in a bid to promote Entrepreneurship through Agribusiness, Renewable Energy and Water Management among the youth. The signing of the MOU took place today at the KCIC offices at Strathmore Business School. This follows months of negotiations and planning between the two institutions
The MOU brings the two parties into an agreement on a framework for supporting youth willing to venture into enterprises that employ climate and clean energy technologies. It is in line with KCIC’s role in providing holistic and country-driven support in climate-friendly ventures.
Speaking during the launch, KCIC CEO Edward Mungai noted that there was a huge gap in the implementation of businesses that have positive climate. “This MOU is instrumental in ensuring that these two parties support, through business incubation and financing options, any innovations by the youth that will favour our climate,” he said, “we are tapping into Youth Fund’s extensive network and experience while we offer the requisite technical expertise.”
Areas of collaboration
The areas of collaboration between YEDF and KCIC shall include youth mobilization, sensitization and information sharing; financing; business development services, incubation and mentorship; market support linkages and networking for youth enterprises relating to agribusiness, renewable energy and water management.
YEDF is a State Agency under the Ministry of Public Service, Youth and Gender Affairs established vide Legal Notice No. 63 of 11th May 2007 as a government initiative to help in alleviating youth unemployment through provision of financing and other business development services. The chairman Ronald Osumba who signed the MOU on behalf of YEDF commended KCIC for being a critical player in ecosystems innovations. “We are glad to work with KCIC and shall be more inclined on the implementation of this MOU,” he said, “we are geared towards supporting ventures that have economic and environmental impact.”
The YEDF CEO who shall be in charge of the operations of the MOU from the side of the government entity reiterated that the partnership will reach out to the majority of Kenyan youth. “We commit to give the best to our youth because that is what we have been delegated to do,” he said.
The implementation of the MOU
The negotiations to have the MOU commenced at the end of last year. A joint technical committee between the two organisations in collaboration with different players in the youth sector have been working on the partnership. The Cabinet Secretary in the Ministry of Public Service, Youth and Gender Secretary Prof. Margaret Kobia also gave her nod for the partnership.
The MOU, which takes effect immediately, will lead to the creation of a database of youth entrepreneurships; access to affordable business finance; growth in climate-focused entrepreneurial innovations and consequently the creation of decent job opportunities. It shall also be instrumental in the attainment of the Sustainable Development Goals (SDGs), Kenya Vision 2030 and the Government of Kenya’s Big Four Agenda.