In Summary
  • The future can be bright for the youth and this will only be achieved if we pull more resources together.
  • If more organisations looked at their supply chains from an innovation perspective, therein lies numerous opportunities yet to be tapped.

The economy generated more than 840, 600 jobs last year.

The Economic Survey 2019 released by the Kenya National Bureau of Statistics shows that private sector employment grew from 69.1 per cent in 2017 to 69.5 per cent last year.

This growth could be attributed to the enabling environment which has been created by the government to enhance employment opportunities and support for the youth.

Among the initiatives is the allocation of 30 per cent of tenders to the youth, women and persons with disability.

Similarly, the government, with the support of the World Bank, has implemented the Kenya Youth Empowerment Project that h focuses on training, capacity building and policy development to improve youth employability.

Likewise, the private sector has also played a critical role towards job creation in the country.

LABOUR FORCE

The Private Public Partnership (PPP) has supported the job creation projects, which have also been necessitated by the fact that nearly four in every 10 Kenyans of working age have no jobs.

In terms of job creation, there has been a concerted effort by all key stakeholders to join hands motivated by the unprecedented unemployment figures compared to the global unemployment rate which is at about six people in every 100.

The United Nation’s Human Development Index 2017 puts Kenya’s unemployment rate at 39.1 per cent.

These statistics continue to reflect on high youth unemployment rate as a number of companies’ downside due to harsh economic environment.

The number of the unemployed globally in 2017 stood at over 201 million — with the figure expected to rise this year — as the pace of labour force growth outstrips job creation.

SMEs

Therefore, supporting Small and Medium Enterprises (SMEs) is very strategic.

SMEs constitute 98 per cent of all businesses in Kenya, create 30 per cent of the jobs annually as well as contribute three per cent of the GDP.

Page 1 of 2