Grassroots to access Youth Fund

Shepias Dube, Business Reporter
GOVERNMENT is working on decentralising the Zimbabwe Youth Council (ZYC), a move which will see the youth empowerment funds being administered at district and ward level, a Cabinet Minister has revealed.

Addressing workers during a familiarisation tour of the ministry’s Bulawayo offices last week, Youth, Indigenisation and Economic Empowerment Minister Patrick Zhuwao said he was aware that resources had been monopolised by the national executive of the ZYC.

“I am aware that all value for youth was going to the national board of the ZYC and people connected to them at the expense of the majority. It is for this reason that we are decentralising the youth council and resources for youth empowerment will be made available at district level,” he said.

Minister Zhuwao said under the new establishment the work of the ZYC at national level will be limited to policy, guidelines and the operational framework.

The provincial structures will be mandated to supervise, co-ordinate and superintend activities in districts.

Meanwhile, Minister Zhuwao said Government will help youths who benefited from the youth fund to pay back outstanding balances to CABS so that other youths may benefit.

“I have confidence that our young people will pay back that money if they have the capacity and if they don’t have the capacity we must be in a position to assist them repay so that others can access the funds,” he said.

Minister Zhuwao said while it was true that most youths were finding it difficult to repay the loans, the figure of 97 percent non-performing loan which was circulating was a “mischievous attempt by detractors who wanted to discredit Government initiatives to empower young people.”

Information in possession of the Sunday News Business shows that in Bulawayo, 284 youths were funded to the tune of $350 400.

Of these youths close to 160 are struggling to pay back the loans putting the rate of default at 57 percent.

“The rate of default is at 57 percent with 162 of the youths who benefited in arrears of close to $200 000 as at June 2015,”read part of the report.

A CABS senior official who preferred to remain anonymous said the bank, together with officials from Government has intensified monitoring and evaluation visits which have resulted in over 130 youths being issued with letters of final demand between July and August.

He said the exercise has also resulted in some of the defaulting youths repaying about $4 000 during the same period.