Stop the Fraud Conspiracy at Youth Enterprise Development Fund

It is estimated that since 2006, the government has given the Youth Fund over Sh3.5 billion. Unfortunately, the fund officials have embezzled about Sh1.5 billion through fictitious ‘tenderpreneuring’ and sometimes, open theft. Conspiracy fraud theory is the in-thing. Corruption is a cancer mutating extremely fast in this state-owned firm. Someone must stop this open corruption at the firm. And if it’s not working for the interest of Kenyan youths, then it should be disbanded! Is the President sleeping on the job?

Youth Enterprise Development Fund-Kenya (YEDF) is a brain child of his Excellency the President of the Republic of Kenya. Under the blessings of the retired President Mwai Kibaki, Uhuru was very instrumental in the formation of this fund that was established in 2006 to reduce unemployment among the youth who account for over 61% of the unemployed in the country. The kitty funds entrepreneurial projects whose target group is young people within the age bracket of 18 to 35 years.

On the contrary, the fund is currently under the control of corrupt individuals. Sections of the youth have demanded a thorough audit of the YEDF. This is because, some individuals in the fund are seriously corrupt, selfish, self-centred, greedy and degrading the spirit and potential of the youths in the country. The intended purpose of the fund was to empower Kenyan youths to develop themselves through cheap loans and grants. Innovative ideas were to be nurtured herewith. Youths were to be empowered socially and economically through the fund but this is just a mirage.

Indeed, the fund has become a cash cow. A section of Kenyan youths and stakeholders also alleged that there was irregular awarding of tenders by some board members. They claimed that they have credible information that tenders were irregularly awarded to some of the board members’ family and close associates. Also, in some cases board members demanded a fee of Sh100, 000 for tenders to be approved. Youth and Gender Affairs Cabinet Secretary recently said they had received numerous concerns from young people and the public in general regarding the management of the kitty.

It is very unfortunate to see the unfolding corruption at the same organization intended to uphold professionalism among the youths. It is sickening to witness the latest awarding of Sh180 million tender to a non-prequalified contractor. Youth stakeholders in the country have consistently asked the president to reconstitute the personnel in this firm but it seems this not forthcoming. There is a serious need to re-organise the youth fund since it was under the control of corrupt individuals. These individuals are selfish, self-centred, greedy and degrading the spirit and potential of the youths in the country.

Let’s stop this open corruption at the firm. And if it’s not working for the interest of Kenyan youths, then it should be disbanded!