K11.8 billion 2012 youth fund launched

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Sports Minister Chishimba Kambwili
Sports Minister Chishimba Kambwili

Youth and Sport Minister Chishimba Kambwili has this afternoon launched the 11.8 billion 2012 Youth development fund.

And Mr. Kambwili has issued a two months ultimatum to individuals and youth organisations that benefited from the 2010 and 2011 youth empowerment funds to pay back the loans.

Mr. Kambwili says failure to do will attract prosecution of the defaulting individuals.

Speaking during the launch of the 2012 Youth development fund in Lusaka, Mr. Kambwili disclosed that out of a combined loan portfolio of 4.1 billion from the 2010 and 2011 allocations of youth development fund, only 110 million has been paid back.

He says the development has put the sustainability of the fund in limbo which he says has come about because the MMD government politicized the allocation of the fund.

Mr. Kambwili has since directed his permanent secretary Agness Musunga to publish and names of people and organizations that benefited from the funds and have not paid back the funds.

And Mr. Kambwili has announced that the K11.8 billion youth development fund will be allocated to deserving youth groups, associations and youth led enterprise as loans and grants.

He says the Patriotic Front government will not politicize the fund like the previous MMD government and will ensure that deserving youths benefit.

QFM

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16 COMMENTS

  1. Hon Minister I have a lot respect for you. I just want to warn you that you may be intending correctly but there are people there, especially our colleagues who do not relent by the time you realise all the name of beneficiaries will be bearing bemba surnames. Therefore do your homework. Dont just dispurse the money, give them guiodelines as follows : we have 72 districts, divide the amount by 72 . fullstop. Just do it. Anyhting else is going to be disasaster. Just divide the money by number of districts in the country. whetehr a district os big or small doesnt matter. If you do not do that bwana Kambwili, dont askl me.

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  2. Hahaha. The Jokers have finally come out of the closets to give an account of what they have up to. Thank you, working Government.

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  3. chikamba kambwili weve heard this nonsense before,just eat with your muchinga republic team naiwe,polo yako.

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  4. BUFFOON Kambwili should consult NGOs whom have been in this micro-lending business for years and they will attest the percentage of borrowers who don’t pay back is high especially in Africa as people assume loans are gifts and free money. So what selection criteria is buffoon Kambwili going to use to hand out these loans?   

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    • why call him a bafoon? cant you just make your point without such words, i dont he has done anything wrong, has he?

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    • Absolutely my brother, the level of trasparency must reach that extent otherwise we are wasting time as Zambians.

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  5. Yaba PF are true jokers I just divided k11b by 72 districts each district will get k150 million assume we have 100 you group applicants per district it means they will get k1.5 million each. 
    What business can they start with such an amount ? Salaula maybe or restrauant and when go down u blame them. Shame PF are just a terrible bunch of fools with no clue on how to run a government 

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  6. The country has 68% population of the youth.How will each youth benefit out of that 11.8bn? the amount is just a drop into ocean.You guys got to be serious the major culprits are the staff at the Ministry who seem not to have a key to the youth crisis in the country.They are passengers in the youth problem instead of being drivers.Kabwili you in trouble with the staff you have.

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