Egerton University, through the Transforming African Agricultural Universities to Meaningfully Contribute to Africa's Growth and Development (TAGDev 2.0) Program, has signed a Cooperation Agreement with Egerton University SACCO Society Limited to operationalize the Savings-Enabled Enterprise Development (SEED) Fund. The initiative seeks to strengthen youth entrepreneurship by providing enterprise financing, mentorship, financial literacy, and access to formal financial services, creating a sustainable pathway for young entrepreneurs to establish and grow resilient businesses.
Speaking during the signing ceremony, the Deputy Vice-Chancellor (Academics, Research and Extension) Prof.Benard Aduda hailed the partnership as a transformative initiative that aligns with the University's vision of producing entrepreneurial graduates who create employment rather than seek it.
"For a long time, SACCOs have been perceived as institutions for older people. This partnership changes that narrative by introducing young people to cooperative finance and entrepreneurship early enough to build a generation of financially responsible innovators and job creators."He challenged the SACCO to deepen its engagement with students through entrepreneurship forums and financial literacy programmes, noting that such collaborations would strengthen the entrepreneurial ecosystem within the University while expanding opportunities for youth.Representing the Egerton University SACCO Board, Chairperson Dr. Catherine described the agreement as a strategic partnership that opens a new chapter in youth empowerment through the cooperative movement.
"We are excited to welcome young entrepreneurs into the cooperative movement. For many years, SACCOs have largely attracted older members, but today we are creating opportunities for young people to build wealth, grow businesses, and secure their financial future through cooperative financing."
She added that the partnership supports the SACCO's vision of expanding its membership while introducing products tailored for youth, women, and persons with disabilities. She also noted that the SACCO's extensive cooperative networks will provide beneficiaries with additional mentorship, training, and business opportunities.TAGDev 2.0 Program Coordinator Prof. Nancy W. Mungai said the SEED Fund reflects the programme's commitment to developing sustainable solutions that empower young entrepreneurs beyond providing startup capital.
"Our goal is not simply to finance businesses but to nurture entrepreneurs who can build sustainable enterprises, create jobs, and contribute meaningfully to economic transformation. Through this partnership, young people will gain the knowledge, networks, and institutional support they need to succeed."
She noted that the initiative combines entrepreneurship development with structured financial support to ensure beneficiaries build enterprises capable of delivering long-term social and economic impact.
Egerton University SACCO Chief Executive Officer Charity Sambu welcomed the collaboration, describing it as a long-term investment in Kenya's next generation of entrepreneurs.
"This initiative is about more than financing businesses. It is about equipping young entrepreneurs with the confidence, knowledge, and support they need to grow successful enterprises that create opportunities for others. We see this as the beginning of a partnership whose impact will extend well beyond the project period."
Providing an implementation update, TAGDev Entrepreneurship and Business Development Officer Fahad Luttah Juma revealed that the first cohort of 80 youth entrepreneurs are already undergoing the onboarding process into the SACCO, with beneficiary accounts opened ahead of the first disbursements. He added that the programme targets onboarding 1,800 youth entrepreneurs before the end of the year to strengthen enterprise growth, industry linkages, and job creation.The SEED Fund will support entrepreneurship training, mentorship, business formalization, apprenticeship opportunities, digital financial services, and access to future financing through the SACCO. By bringing together Egerton University's entrepreneurship expertise and the SACCO's financial services, the partnership is expected to strengthen youth-owned enterprises, stimulate job creation, and contribute to Kenya's broader economic transformation.
Written by:Ian Kamau
Communications,TAGDev 2.0 Program