Addressing the media last week at Uganda Media Centre, Pius Bijirimana the permanent secretary for the ministry of gender, Labour and Social Development noted that; Government has put in place the legal and policy frame work, as well as youth-specific programmes geared towards providing the conducive space and creating opportunities for tackling the cause of unemployment among the youths. He enumerated these to include; National Youth Policy, National Action Plan for Youth Employment and Youth livelihood Programme among others.
Meanwhile, Fabian Kasi, the managing director centenary bank noted that, for one to access the loan, he or she has to be a Bona fide Ugandan citizen aged between 18-30years, in possession of an authentic National Identity Card issued by National Identification Registration Authority (NIRA),must be individuals with valid trading licence’s or formally recognized legal business entities registered by the Uganda Registration Service Bureau and it is on this point that he has encouraged youths to register their business however small they are.
He also added that; the beneficiaries of the fund shall be required to contribute at least 10 per cent of the loan amount in the business venture and also obtain letters of recommendation from LC1 and Sub County Chief where the business is located.
He called upon the youth to apply for youth loan from any Centenary Bank branch across the country, as well as provide two reputable guarantors with no history of a criminal record. The youth Venture Capital Fund, is an avenue that was initiated to allow youth access to finance without necessarily being in groups, it also caters for youth who wish to access funds as individuals, as well as give a chance to those who wish to operate in smaller groups.