The meeting that was scheduled to begin at 11:00 am was postponed for several hours hoping that the youths would show up in vain. Ronald Ssekitto, a youth councilor representing Luweero town council says that they expected more than 200 youths but surprisingly only 12 attended and 5 of them managed to wait till the end.
Youths in Luweero town council on Wednesday shunned a youth loan scheme workshop convened to sensitize them on how to access the Youth Capital Venture Fund on grounds that the programme is fake and with tough conditions.
The workshop was convened by the town council authorities at Giants` College School.
The meeting that was scheduled to begin at 11:00 am was postponed for several hours hoping that the youths would show up in vain. As a result, Dan Ssemuyaba, the Kavule Zone Councilor asked Luweero district Youth Councilor, Samuel Mulwana, to proceed with the workshop.
Julius Walugembe, one of the youths who shunned the meeting told URN that he couldn’t waste his time attending a workshop on what he called fake government programs, adding that the government connived with the banks to take their money.
He explained that the government did not wish them to prosper because the bank conditions are tough and some of the youths cannot fulfill the conditions.
Robina Babirye who was found in her saloon in Kasana town, said that she was aware of the workshop but the information she heard over the radio on youth funds discouraged her. Babirye says that it is not realistic to ask for two referees of sound status to back their application for funds as some of them are peasants. She calls upon the ministry of finance to consider them and re-set the conditions to encourage them borrow the money.
Ronald Ssekitto, a youth councilor representing Luweero town council says that they expected more than 200 youths but surprisingly only 12 attended and 5 of them managed to wait till the end.
Stephen Mukasa, one of the youths who attended, says that though he attended he did not buy the idea because the tough conditions set by banks may deny them a chance to access their Capital Venture Fund.
Olive Namukasa who also attended says that government considered those who have already started their own businesses but those who wish to start cannot manage the bank conditions. She wants government to relax the conditions to allow those who don`t have businesses to borrow.
Youth councilor Samuel Mulwana says that there is need to consult the youths and find a way forward because most of them have a belief that they will not benefit.
In the 2011/2012 budget, government allocated up to 25 billion shillings under the Youth Entrepreneurship Venture Capital Fund to end youth unemployment. The money is managed by DFCU, Centenary and Stanbic banks but with strict conditionalities.
Some of the conditions stipulated that the beneficiaries should be between 18-35 years and should have an O-level certificate as a minimum academic qualification. Also, the government set conditions that any youth who wished to access the money should have a registered company that does formal business.
youth venture capital fund
luweero town council