Back to Index

US$11m youth development fund welcome
Youth Forum
November 21, 2011

The move by Old Mutual and the Ministry of Youth Development, Indigenization and Economic Empowerment to avail a Youth Development Fund to the tune of US$11m is a step in the right direction as far as youth development and empowerment is concerned.

The fund, launched by the country's vice president, Joyce Mujuru, will go a long way in alleviating poverty amongst youths and empowering us, and this has far reaching results including reduction youth poverty levels, politically motivated violence and unemployment.

It is also heartwarming to realize that for the first time in the country, someone has made sense of the fact that by virtue of being young, we are impoverished and marginalized and therefore do not have access to collateral, a prerequisite in almost all previous initiatives and funds. The collateral, in the form of movable or immovable assets, had become a prohibitive factor in applying for loans for many astute young men and women of Zimbabwe as they could not lay their hands on the assets.

With the collateral requirement waivered in the Old Mutual fund, the Youth Forum hopes many entrepreneurial but underprivileged youths will be able to access the funds and start their own thriving businesses. The beneficiaries of the fund must also efficiently and effectively use the fund and not abuse it so that more and more youths can continue to benefit from the noble initiative.

What is important now is for the fund to be administered and disbursed in a transparent non-partisan manner that will allow deserving beneficiaries access to the funds. With allegations of previous funds having been distributed in a partisan and non-transparent manner, it is important that those in charge of the funds take this opportunity to shrug off such tags and make sure such allegations are laid to rest. It is also important that measures are taken to make sure the inaugural and subsequent beneficiaries pay back the money so that more youths will benefit as it becomes a recurring fund.

The Youth Forum will also positively contribute to this noble initiative by training many young people the skills needed to start and run their own businesses so that the fund is not accessed by incompetent youths. This will be achieved through the organization's entrepreneurship and sustainable livelihoods programs aimed at giving such young people the necessary skills to engage in activities that results in employment creation and poverty alleviation. All potential beneficiaries need to acquire such skills to ensure loans are paid back and the fund remains evolving and continues to benefit more young people beyond the group of first beneficiaries.

The Youth Forum will also look at ways of assisting its members to access the fund after undergoing the necessary training and acquiring skills for starting and running businesses.

Visit the Youth Forum fact sheet

Please credit www.kubatana.net if you make use of material from this website. This work is licensed under a Creative Commons License unless stated otherwise.

TOP