Effect of commercial banking on youth empowerment(Case study Narok Town)

Abstract

The research proposal is conducted to determine how banks in Kenya can support youth in alleviating their life standards. When you observe how currently youths are suffering due to lack of employment such that they cannot manage to put food on the table shows us that they cannot manage to take care of their beloved families. Due to these reason of failure to secure job to take care of the families it has led youth to engage themselves in drug trafficking, pick pocketing and stealing, rape cases increasing dairy due to idleness etc. The research is conducted to determine the level of awareness to banking services among the Narok youth resident which assist them to utilize the available services such loans offered to youth at an affordable interest rate even grants offered by government through banks which are nonrefundable can be used to alleviate their lives through starting viable business venture, can use the loan to start small business e.g. jua kali that can create employment. The importance of the study is to help youths in Narok County to discover financial support that the banks are willing to offer e.g. giving loans to those youths who have viable business ideas at an affordable interest rate so that they can create employment for themselves especially graduate who may feel disappointed after tarmacking for a long period without securing a job. Banks are also willing to organize seminars in order to educate young entrepreneurs who are willing to venture into business field, to educate them on how to invest their money wisely especially in areas where investment risks are high. Young people facing specific challenges in entering work force, their lack of professional experience may plunge them into the "experience trap" and they are unable to secure a job. Banks intervene to give graduates attachments and internship to equip them with experience so that they can be employable.