The government has proposed to establish a National Youth Service Fund where all earnings from the agency’s businesses will be channelled. National Treasury Cabinet Secretary Ukur Yatani, in draft regulations establishing the NYS Commercial and Enterprise Fund, said the initial capital of the fund would be Sh2 billion. NYS user charges or fees, income generated from commercial and enterprise activities, income from disposal of the service assets, and income from investment proceeds will be deposited to the fund. With the approval of the council, the director-general may invest NYS funds not immediately required in government securities as the National Treasury will approve. Any debt owed by or to the former Fund shall on the commencement of the regulations, become a debt owed by or to the National Youth Service Commercial and Enterprise Fund.

Source: The Star April 25, 2021 20:14 UTC