Kenya: Sh600 million youth fund for film and music

Investment

The Youth Enterprise Development Fund has set aside Sh600 million to revolutionise music and film industries, the board chairman Gor Semelang'o has said.

 The fund has outlined measures and structures that if implemented will create over 5,000 employment opportunities annually for the young people.

 Speaking in Kandara constituency on Sunday when he gave out cheques and incubators to several beneficiaries of the fund, Semelang'o said Sh300 million is set aside for development of the local music while another Sh300 million will go towards film production.

 “We have formed a film committee to spearhead production of films in the villages by identifying talents and towards this we have set aside Sh300 interest free loans,” he said.

 Semelang'o said this is in an attempt to increase local movie content after President Uhuru's directive that local TV content be increased from the current 40 per cent to 60 per cent.

 He said the fund has removed bottlenecks that have hampered the transfer of funds from the banks to the youths.

 Previously, the money was sent to banks where young people were borrowing from but according to the new structures, the youth will get funds directly from the youth fund.

 “The tedious and bureaucratic demands by the banks will no longer be a problem as the board will disburse the money directly to the youths in the constituencies," said Semelang'o.

 Murang’a Women representative Wanjiru Chege asked the youth to take advantage of the fund and create self-employment opportunities.

 She said the fund has reduced unemployment and idleness among the youth. Wanjiru said the Sh6 billion that would have been spent on Presidential election re-run will enable youth and women start income generating activities.

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