The National Youth Opportunities Towards Advancement (NYOTA) programme has begun processing the KSh3,000 savings component for eligible youth beneficiaries, with funds being split into a structured investment model ahead of the next phase of business support disbursements.
According to an update issued on June 23under the programme, the savings will be divided into two components: KSh900 (30 percent) will be placed in a Money Market Fund (MMF), while KSh2,100 (70 percent) will be locked in a fixed savings account for one year.
“Eligible NYOTA beneficiaries will soon receive notification for their KSh 3,000 savings allocation,” read part of the statement.
The disbursement process is ongoing for 66,605 youths who have successfully qualified for the first phase of the business support programme.
Nyota indicated that all eligible beneficiaries will receive their savings before the rollout of the Business Support Phase II disbursement.
To qualify, beneficiaries must have received the initial business support funds and be properly registered in the savings system using their registered phone numbers.
Eligible NYOTA Beneficiaries to Get KSh3,000 Savings: How It Works
According to NYOTA, the programme aims to encourage young people to save regularly and build long-term financial security through the Haba Haba savings wallet.
Under the initiative, all NYOTA beneficiaries are automatically enrolled into the NSSF Haba Haba scheme, removing the need for a separate registration process. The programme is designed to promote consistent saving, financial discipline, and future preparedness among youth participants.
Also Read: Govt Explains NYOTA Delay, Sets June 30 Payment Date
Beneficiaries who qualify for business support will receive KSh25,000 in two installments, with a mandatory deduction of KSh3,000 per tranche directed to the Haba Haba savings wallet.
Those engaged in the on-the-job experience programme will earn a monthly stipend of KSh 6,000 for six months, with KSh720 automatically channeled into savings each month.
The savings structure is divided into 30 percent short-term and 70 percent long-term. The short-term portion becomes accessible after one year, while the long-term component is released in phases, with half available after five years and the remainder reserved for long-term financial goals.
Also Read: Uproar as Oparanya Reveals Kenyans Will Repay World Bank Loan for NYOTA Project
NSSF Deductions
Under the NSSF Haba Haba scheme within the NYOTA Project, voluntary savings are matched at a 2:1 ratio, meaning that for every KSh2 a beneficiary saves, the project contributes an additional KSh1.
For example, if a beneficiary saves KSh1,000, they receive a matching contribution of KSh500, bringing the total savings to KSh1,500. Similarly, saving KSh6,000 attracts a KSh3,000 top-up from the project, resulting in a total of KSh9,000.
To qualify for the NYOTA and its Haba na Haba NSSF savings integration, you must be a Kenyan citizen aged 18 to 29 (up to 35 for Persons with Disabilities) with a Form 4 education or below.
Additionally, you must also be unemployed or underemployed and not an active college or university student.
Follow our WhatsApp Channel and X Account for real-time news updates.
