Africa-Press – Tanzania. THE government has, for the first time in seven years, released money for the Youth Development Fund for the major objective of empowering the young population to create their own employment opportunities.
Minister in the Prime Minister’s Office (Parliament, Policy Coordination, Labor and Employment, Youth and Disabled), Jenista Mhagama said that the Fund was al- located 1bn/- every year but it had never received the money for the past seven years.
“The government has already released the money or providing loans to youth, Minister Mhagama said.
She explained that the Third Five Year Development Plan has also emphasized on the role of the government to empower youth economically through the provision of loans that will be disbursed based on the guidelines which will facilitate access of the loans to the targeted beneficiaries.
“The Prime Minister’s Office has been managing the Youth Fund and the national budget has been allocating 1bn/- every year but for seven years we had never received the money but this time, the sixth phase government has already released the fund for youth,” Ms Mhagama said.
She said that the Fund will help to stimulate youth’s economic activities. “There other empowerment funds in councils but the Fund under Prime Minister’s Office focuses on empowering youth companies to increase their efficiency.”
Ms Mhagama cited an agri- based firm – JATU which has performed well in its operations through government support and qualified to be registered at the Dar es Salaam Stock Exchange. The company engages in agriculture, industries and markets, with its vision to become a leading public company in producing quality products and good services within and beyond the country, and to create employment opportunities to Tanzanians.
The National Assembly ad- opted a resolution on February 4, 2013 to start the Youth Development Fund as a means to curb the problem of youth un-employment in the country and empower the young population to create their own employment opportunities.
According to the 2012 National Population and Housing Census, there were 44,929,002 people in Tanzania, with 63 percent of the population below the age of 30 and approximately 30 million people (about 75 percent) of the total population in rural areas.
For More News And Analysis About Tanzania Follow Africa-Press
