At least 50 farmers in Western Kenya are set to benefit from Sh15 million business acceleration grants.
The project being implemented by LakeHub, a business incubation centre in Kisumu will see youths aged 35 and below get extensive training, as well as funding for expansion.
According to LakeHub Director Dorcas Owino, the project funded by GIZ, a German development agency, has already put up calls targeting agribusiness ventures led by women and youth.
The program targets agribusiness projects in Kisumu, Siaya, Bungoma, Kakamega and Vihiga, which have been in operation for the last one year.
We target initiatives making Sh100, 000 monthly, and with at least five staffs and engaged in poultry, apiculture and groundnutsDorcas Owino
In the program, the entity will identify 100 individuals who will undergo a business incubation program.
The program involves training and mentorship on entrepreneurship skills, business acceleration and marketing.
After the incubation program, 50 individuals with viable projects will get Sh300, 000 each injected in their agribusinesses.
“This will be done in tranches of Sh100, 000, considering the performance of the businesses,” said Owino.
“We target initiatives making Sh100, 000 monthly, and with at least five staffs and engaged in poultry, apiculture and groundnuts,” she added.
Successful pilot project
According to Ms Owino, the initiative comes following a successful pilot project which saw 20 individuals in agribusiness benefit from Sh50, 000 each.
The project was an intervention following a research funded by GIZ, which identified value chains in areas targeted with this support.
At the end of the program, we want to see beneficiaries having registered businesses, stable and able to expand and provide opportunities to more young peopleMs Owino
Ms Owino said the research identified funding, marketing, packaging, and value additions as some of the key challenges facing young agribusiness players.
This incubation program will see the beneficiaries capacity built on these areas so as to accelerate their growth.
“At the end of the program, we want to see beneficiaries having registered businesses, stable and able to expand and provide opportunities to more young people,” added Owino.