The Kenya National Chamber of Commerce and Industry (KNCCI) has pledged its support for establishing a Sh13 billion youth mining fund. This initiative, revealed during the inaugural Youth in Extractives Consortium (YEC) conference at KCA University, aims to empower young Kenyans to explore opportunities in the mining industry while fostering employment and economic growth.
The KNCCI president, Eric Rutto, emphasized the transformative potential of the mining sector, calling for a united effort from all stakeholders to ensure the initiative’s success. Represented by the Chamber’s youth director, Irene Kirimi, Rutto stated, “Your commitment to empowering and supporting our youth in their journey is invaluable. Together, we are creating a better future not only for those involved directly in mining but for the entire country.”
The proposed Sh13 billion fund will primarily focus on equipping approximately 2 million youth, organized in groups across the country, with the tools and resources necessary to succeed in the mining sector. This includes the provision of essential mining equipment and access to financing options.
Unlocking Opportunities for Youth
Mining and Blue Economy chairperson Charles Komen highlighted the strategic importance of the initiative in addressing challenges and creating opportunities. He underlined KNCCI’s vision of advocating for sustainable practices and innovative solutions to turn the mining sector into a driver of development and job creation.
“By advocating for sustainable practices and innovative solutions, we can turn this sector into a force for positive development and job creation,” Komen remarked. He further noted that the consortium plans to collaborate with various stakeholders, including private sector players and government agencies, to develop programs aligned with the fund’s goals.
Komen also announced that YEC would focus on empowering the youth through training, mentorship, and collaboration. These programs aim to foster innovation and sustainability, enabling young professionals to engage in meaningful projects that will not only benefit their careers but also contribute to Kenya’s economic progress.
Expanding the Mining Sector’s Potential
Kenya’s mining sector has long been recognized as an underutilized asset in the nation’s economic portfolio. The establishment of a youth mining fund represents a critical step toward realizing the potential of this sector while addressing youth unemployment, a pressing challenge in the country.
KNCCI’s initiative aligns with broader national efforts to involve young people in key economic sectors. With proper equipment and training, the youth stand to benefit from the lucrative opportunities in mining and extractives. This empowerment could serve as a catalyst for increased productivity and innovation within the industry.
Building Partnerships for Success
KNCCI has called on potential partners to support the initiative by providing funding, technical expertise, and equipment. “We are currently seeking partners to help provide equipment and finances to support the youth in extractives,” Rutto noted. This collaborative approach is seen as vital to ensuring the fund’s success and long-term sustainability.
The Chamber’s focus on sustainability and innovation also extends to fostering environmentally friendly practices within the sector. By integrating sustainability into the core of its plans, KNCCI aims to create a mining industry that not only generates wealth but also preserves the environment for future generations.
The Road Ahead
The establishment of the Sh13 billion youth mining fund is a bold step towards transforming Kenya’s mining sector. Through initiatives like the YEC, KNCCI is paving the way for a new generation of entrepreneurs to make their mark in the industry.
As the program gains traction, the involvement of stakeholders, both local and international, will be crucial in unlocking the sector’s full potential. With a focus on training, mentorship, and resource provision, the future of Kenya’s mining sector looks promising, offering hope and opportunity to millions of young people.
The KNCCI’s rallying call to empower youth in the extractive industries is not just about economic growth it’s about fostering a culture of innovation, sustainability, and inclusion that will shape Kenya’s future.
