Youths To Be Sued For Failing To Repay Empowerment Loans – GRZ
Government has vowed to sue young people in Eastern Province who have failed to repay the loans they obtained under the Youth Development Fund (YDF). Under the 2014/2014 YDF, Government loaned over K2.3 million to 90 young entrepreneurs in Eastern Province.
In Chipata, 17 youths got loans worth K650, 000 in 2012 but have failed to pay back over K331, 000.
Eastern Province acting youth development co-ordinator Trywell Moonga said in Chipata yesterday that defaulting youths will be prosecuted so that the government can recover the money and lend it to other deserving applicants.
Mr. Moonga said there is need for youths who access the loans to pay back on time.
The money is a revolving fund and so any delay in repaying the money deprives others of such empowerment funds.
Mr. Moonga said youths submit good business proposals to access the funds, but misuse the money on other activities. He said frequent monitoring of projects will be done.
Source: Lusaka Times