Youth as Key resource for the Kenyan economic rebuilding

 As the title refers, “youth,” “adolescents,” and “young people” varies in different societies, as to the different roles and responsibilities ascribed to members of each group. The 2010 constitution of Kenya defines the youth as being individuals between the ages of 18 and 35 years. It’s a high time young people ask themselves an important question of, “How can we make a change in the economy of our nation?”

National Gender and Equality Commission (NGEC)

Designing and producing products

The famous words of R. Buckminster Fuller “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” This should be an inspiration to the Kenyan youth that they design, create, innovate and make new things or change how the existing ones are made. 

Training fellow youth on leadership and group dynamics

The youths can facilitate the youth training on leadership and group dynamics. The key topical areas for FGDs will include, but not limited to the following: group dynamics concept, group management, team building, conflict management, negotiation and communication skills, project planning, management and sustainability, participatory monitoring and evaluation, resource mobilization and management, proposal writing, fight against corruption. Part of this facilitation will include providing mentorship for the youth groups.

Role as teachers in the economy.

A youth should be a driver in the economy, and not a victim to the economy. Do you control your job, your income and your role in the workplace, or does some invisible force? Young people can and should teach their peers, younger people and adults about mindsets focused on economics. This can include community workshops for youth and adults, building lessons in how we thin uhk into early childhood development programs, teaching educators teach about learning styles and mindsets.

Participate in Paying taxes

By TONY WATIMA

Last week, the President announced that his administration expects to collect Sh3 trillion in taxes by next year and double that in the next five years. In the financial year 2021/2022 that ended in June this year, the KRA collected a new high of Sh2 trillion, so collecting Sh3 trillion means a 50 percent increase in collection within a year. Collecting taxes and fees is a fundamental way for countries to generate public revenues that make it possible to finance investments in human capital, infrastructure, and the provision of services for citizens and businesses. That is why youths should participate fully in this role to enhance economic revival of the economy.

Saving money of as per the little earned 

By RAPHEAL LEKOLOOL

For years, Kenya has struggled with poor savings rates and high levels of reliance on foreign aid, which have led to significant social and economic challenges. As observed in various studies, Kenya’s savings rate is way below Africa’s average of 17 percent. It can be argued that Kenya's low savings culture stems from several factors, including poverty, inadequate financial education, and a limited range of available financial incentives. This has made it difficult for Kenyans to build up their savings over time.

A rise in aggregate savings would yield larger investments associated with higher GDP growth. As a result, the high rates of savings increase the amount of capital and lead to higher economic growth in the country. Also, based on the theory of marginal inclination to save, revenue growth leads to the expansion of the savings rate.The current national conversation on saving and investing inspired by President William Ruto's campaign is welcome.

Truly, the youths are a key resource that can be tapped for the benefit of a whole country. Governments and civil societies are therefore encouraged to work hand in hand with youths to tackle economic issues and build back better.