KCCA to review youth fund access modalities

By Juliet Waiswa                                             

Youth in Kampala have failed to access the youth funds given by the government, Kampala Capital City Authority, (KCCA) executive director, Jennifer Musisi has said.

Musisi said a big number of the youth did not have the necessary requirements set by the bank to access the funds and hence missed out on the stimulus package.

“We have a challenge, the government released youth funds but most of them did not meet the required set standards set by the bank,” Musisi told a delegation of Commonwealth youth team on Tuesday at the authority’s committee board room.

She said the bank and KCCA are trying to review the modalities to see that the youth can access funds next financial year.
Musisi explained that some youth who wanted to access the funds did not have the skills while others did not have any businesses.

Government allocated sh16.5billions for job stimulus package mainly to cater for the unemployed youth in the Central Business District and the urban centers in Kampala. During the presidential campaigns in 2011, President Yoweri Museveni promised the youth a stimulus package.

In March 2012, KCCA rolled out the disbursement of the funds through Centenary Bank which set minimum requirements for the youth to access the money.

Each youth was told to present two reputable guarantors for those without collateral. The maximum amount to an individual was sh.2m and sh1om for a group of over five people. The fund is revolving with a maximum of two years and minimum of 3 months.

Musisi also told the delegates that the authority has set up an employment bureau, for the unemployed youth where they can get connected to different organizations that can offer employment.

The youth delegates advised that funds should not be given to the youth directly but rather set up a network where they can all benefit.