Thursday, June 13, 2024

We’ve only recovered about 3% of the K270 million PF gave out in youth empowerment – Nkandu

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Youth, Sports and Arts Minister Elvis Nkandu has revealed that the government has only managed to recover about 3% to 4% of the K270 million that was given out as youth empowerment by the Patriotic Front (PF) government, highlighting the government’s struggles to recover funds that were meant to support Zambia’s youth.

The youth empowerment initiative was launched by the PF government in 2016, with the aim of providing loans to young people who wanted to start their own businesses. The government hoped that this initiative would create jobs and reduce youth unemployment, which has been a major problem in Zambia for many years.

However, the initiative has been plagued with problems from the start. Many of the young people who received loans did not use the funds to start businesses, and others simply disappeared without paying back the money. As a result, the government has been struggling to recover the funds, which were supposed to be used to support more young people.

Nkandu’s revelation that only 3% to 4% of the funds have been recovered has led many to feel that the government has failed in its duty to protect public funds. The Minister, however, has assured the public that the new dawn government will use other avenues to recover the money if those who got empowerment loans do not pay back by the end of this year.

“We are determined to recover the money that was given out as youth empowerment, and we will use all the tools at our disposal to do so,” Nkandu said. “We have already started working with the banks to track down those who have not paid back the loans, and we will take legal action against anyone who refuses to pay back the money.”

The Minister has also called on young people who received loans to come forward and start paying back the money. He said that the government is willing to work with those who are struggling to repay their loans, but those who are deliberately avoiding repayment will face legal action.

In addition to the youth empowerment funds, Nkandu also addressed the issue of the fuel tankers that were bought by the government but have not been used. The Minister denied claims that the tanks had been abandoned, saying that his ministry is working to find a suitable use for them.

“We are currently exploring different options for the fuel tankers, including leasing them out to private companies or using them for government operations,” Nkandu said. “We are committed to finding a solution that will benefit the people of Zambia and ensure that the tanks are put to good use.”

The news about the recovery of the youth empowerment funds has highlighted the need for stronger measures to protect public funds in Zambia. Many Zambians have called for stricter regulations to be put in place to ensure that government money is used properly and that those who misuse public funds are held accountable.

The government has promised to take action to address the issue, and Nkandu has urged young people to come forward and work with the government to ensure that the funds are recovered. However, it remains to be seen whether the government will be able to recover the majority of the funds that were given out as youth empowerment loans.

In response to the ongoing challenges of recovering the youth empowerment funds, the Zambian government has announced plans to review and improve the youth empowerment initiative. The government is committed to ensuring that the funds are used to support young people in starting businesses and creating jobs, and that the loans are repaid in a timely manner. The review process will involve consultations with stakeholders and experts in the field of youth entrepreneurship, and will aim to identify areas for improvement and strategies to ensure the success of the initiative in the future.

13 COMMENTS

  1. Will this government ever take responsibility? Prove to Zambians that you can work despite the stolen money by PF.

    Zambians are tired of you always talking about PF. Zambians let’s vote PF back. Pf has learnt a lesson

    • The problem with many Zambians is that they want to heap all the problems on the New Dawn Government. When did these problems arise? Did they start after the August 2021 elections? Even if Zambians decide to vote out of power in 2026, these problems will not go away overnight. The 13 billion dollar debt owed to China will haunt any government that will assume power.

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  2. 3-4 percent and no one in prison or have had their property or business confiscated. You can’t show commitment to recovery you just want to cry about it.

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    • Obviously there are records of the people who borrowed and terms of repayment are there and action for default are there. This chap is just posturing.

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    • Yes there are records and investigators have to work to uncover these, but UPND thinks information will fall into their laps from heaven. Its the same mentality they have had when prosecuting Mumbi Phiri and the likes “We will arrest her and evidence will drop from heaven and we will convict her”
      Ba UPND your institutions are sleeping because despite your New Dawn you are still sleeping

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  3. Is that not because the money was given to the youth to be spent and not to wait for it to be recovered for political reasons. You are a mad son of a cow called hh

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  4. That’s all the government will recover. We know those funds went to PF supporters especially musicians. Majority of receipts went to buy cars and begun partying in SA. Nearly none invested that money. It was simply given without looking at viable business plans. Seer 1 influenced the PF to give money to youths and they listened to that same proclaimed prophet.
    The solution here like someone above has stated, is to sue them in the High Court for failure to repay. Moving forward, the UPND needs to learn to give out loans on merit to real businesses, but if their tanker ’empowerment’ are anything to go by, we know how this will end.

  5. Is this minister telling Zambians, youths in particular that new doom government will only start empowering youths when the money is fully recovered.

  6. I am sure he doesn’t even know the figure that was loaned out. He just wants to cajole the youths from abandoning the Upnd…. that there’s something to look forward to.

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