News Column

Funds 'Out of Reach'

June 11, 2014

Martin Mwita

MOST youths cannot access loans from the Sh6 billion Uwezo Fund.

Haki Africa, a human rights group, says the requirements for the access of the funds are far beyond the youths' capabilities.

Speaking in Mombasa town yesterday, Haki Africa executive director Hussein Khalid called for a review on the requirements to enable the youth, women and persons living with disabilities access the funds.

"The ministry has set up requirements and regulations that render the fund inaccessible and out of reach of most youths across the country. The funds need to be given in an easier way if they are really meant to benefit the youth," Khalid said.

He said the 30 per cent of all tenders set aside for the youth at both national and county levels are also not reaching them.

Khalid said Haki Africa applauds the government for setting up the Uwezo Fund, but more needs to be done to empower the youth.

He said calls to the youth to take advantage of the fund might end up being a "lip service" and the youth will remain poor if interventions are not made to provide the fund and tenders.

"Other hurdles include registering groups, which is also very cumbersome. The youth are also required to have recommendations and bank accounts. Opening those accounts require resources, which the youth don't have," Khalid said.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters