Many young people in Kenya are struggling to manage money and build a stable future, even after getting an education.
A recent discussion on Mwelekeo TV brought this issue into focus, where host Mercy Otieno spoke with Veronicah Okola about why financial challenges remain common among the youth and what practical steps can help change the situation.
Veronicah explained that financial literacy is no longer optional in today’s world. In Kenya, the number of job seekers continues to grow, making it hard for everyone to rely on formal employment.
She noted that even those who have jobs often struggle because they do not know how to manage or grow their income.
According to her, understanding how to budget, save, and invest is just as important as earning money. She shared a personal story about her mother, who made wise financial decisions with limited knowledge, helping the family survive.
That experience pushed her to learn more and later teach others.
Through Finsmart Hub, Veronicah is working to equip young people with practical skills.
The platform focuses on three key areas: teaching basic money management, guiding youth on how to start and run businesses, and offering mentorship.
The aim is to help young people move away from only chasing white-collar jobs and instead create their own income opportunities.
Many youths, she said, grow up believing money is always scarce, a mindset shaped by family habits and lack of proper financial education.
She pointed out that the education system mainly prepares students to pass exams and look for jobs, but does not teach them how to create wealth. This leaves many graduates unprepared for real-life financial decisions.
Finsmart Hub tries to fill this gap by offering masterclasses and affordable courses. Some programs are supported by global companies like Microsoft, especially in areas such as digital marketing.
These programs take learners step by step from having a business idea to actually launching it.
The use of technology is also a key focus. Veronicah explained that young entrepreneurs can now start businesses with fewer resources by using digital tools. For example, one can build a website at a low cost, use artificial intelligence for design work, and automate sales processes.
These tools reduce expenses and make it easier to compete in the market.
The conversation also addressed challenges facing young entrepreneurs in Kenya. Many start businesses but remain stuck in survival mode because they focus only on daily operations instead of long-term growth.
There are also concerns about policies that sometimes favor imported goods over locally produced ones, limiting opportunities for local businesses.
Access to funding is another issue, especially where there is a lack of proper structure and accountability.
Veronicah shared plans for an accelerator program at Finsmart Hub. The program will run in phases, starting with idea development, followed by business building, and finally launching and raising funds.
Participants will learn how to create pitch decks, develop simple products, and attract investors. The long-term goal is to expand the platform across Africa and even set up physical technology schools.
Young people need to be intentional about how they handle money. This includes saving regularly, controlling spending, and finding ways to grow income. Starting small is encouraged, as long as there is consistency and discipline.
Changing mindset is also important, as it shapes how people see opportunities.
This conversation is especially useful for students, young professionals, and anyone trying to start a business in Kenya.
It shows that financial success is not only about how much money one earns, but also about how well it is managed. With the right knowledge and guidance, young people can improve their financial situation and build a more secure future.
