Museveni Unveils Youth 4 Business Innovation And Entrepreneurship Fund To Help Youth Overcome COVID-19 Crisis

Museveni Unveils Youth 4 Business Innovation And Entrepreneurship Fund To Help Youth Overcome COVID-19 Crisis

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By Spy Uganda

President Yoweri Museveni has revealed that the government has a number of interventions to help Ugandans, especially the youth, to overcome the challenges posed to them by the deadly Coronavirus (COVID-19) pandemic.

Museveni revealed this during the commemoration of the International Youth Day at a function held at State House Entebbe on Wednesday, during which he revealed that the National Resistance Movement (NRM) government is undertaking a lot of interventions to help Ugandans overcome the effects of COVID-19 on the country’s economy.

Min. for Gender, Labour and Social Dev’t Frank Tumwebaze hands over a checque of Shs252m to be given to youth in Arua District

Shortly after the function, Museveni wrote on social media thus;

“Presided over International Youth Day celebrations, which we had to do “scientifically” due to the ongoing problem of COVID-19.

Cognisant of the extra strain brought about by this global pandemic, especially on our young people, we have intensified efforts to open up many opportunities with access to financing and skills development being at the core of these efforts.

However, for better and sustainable utilisation of these opportunities, it is imperative, now more than ever, that the youth internalize the message we have been putting out time and again. Identify with a sector towards wealth creation and do it with ekibaro/ Imar/ calculation. This can be in agriculture, manufacturing/ industry which includes value addition, Services or ICT.”

Minister Frank Tumwebaze displays a dummy checque for Shs147m to be given to youth 

He added that; “Secondly, be honest in your organizations or associations if and, or when you access the funds. The associations are only viable if they are managed well and also honestly. This goes especially to our literate children, whose vocations may not be readily absorbed in the job market. Desist from joining dangerous groups like our children that studied only Arabic and ended up in the ADF out of brainwashing by wrong elements.”

The President also noted that; “There are a number of government initiatives geared towards empowering the youth that can be very helpful.

Minister Tumwebaze hands over a checque for COVID-19 UNDP funds to be given to the youth in Serere District

Development partners such as the UNDP have come on board. Today, we launch the Youth 4 Business Innovation and Entrepreneurship facility. 10 million USD has been granted under this facility alongside a concessional loan of up to 200m USD, targeting the Youth.

You are encouraged to apply through www.undp.org. My daughter Anne Juuko of Stanbic  Bank is talking about 14% as interest below market rate but I hope it can be revised down.

Be honest in your organizations or associations if and, or when you access the funds. The associations are only viable if they are managed well and also honestly.”

 

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