adminThe party’s youth wing secretary for information and publicity in the province, Mr Phainos Makwarimba, said they welcomed a number of youth empowerment programmes by the Government but were concerned by the stringent conditions set by banks in accessing the funds.
He said a few if any, would meet the tight conditions set by the
banks as a prerequisite for loan applications.
Of late, the Ministry of Youth Development, Indigenisation and Economic Empowerment launched a youth fund to enable the youths to embark on income generating projects.
“The Government through the Ministry of Youth Development, Indigenisation and Economic Empowerment introduced a youth fund with the intention of empowering the youths. And as youths in Masvingo we applaud such noble strides as this will fight poverty and unemployment in the province.
“However, we are still to fully benefit from the Government’s gracious plan. It has become practically difficult for most if not all youths in this province to access resources under this fund from Cabs because of stringent conditions set by the bank to access the funds.
“I am one of a few lucky youths who have benefited from the land reform and got a farm but with the land l am also failing to access the funds because the bank does not consider it as collateral security.
“We are appealing to the bank to relax its conditions so that youths can start accessing the resources,” said Mr Makwarimba.
He said banking institutions should desist from taking an elitist stance when dealing with young people, who in most cases do not have any form of security.
“Financial institutions should abandon their exclusive attitude that leaves most youths unable to benefit from Government initiatives.
Asking for collateral security from a 19-year-old from rural areas is an insult to common sense. Banks should tailor their policies to suit the disadvantaged populace in our societies.
“Banks should be mindful of the fact that youths have been mere spectators for a long time that they cannot have any form of security apart from their brains and the zeal to succeed.”
He said there was also the need to come up with people-centred projects so that youths could cease to be beggars but active participants in economic development programmes.
He noted that youths should be able to unlock value through appreciating that they have the potential to work on their own and desist from looking upon the elders for survival save for guidance.
Online Reporter