MYSC gives YDF P81m shot in the arm
Pauline Dikuelo | Tuesday March 29, 2022 06:00
Briefing the Committee of Supply recently the youth minister, Tumiso Rakgare said the last financial year was difficult and disruptive due to COVID-19 as youth economic empowerment programmes were disrupted as a 'safety measure'. “During the financial year, the ministry received 8,383 applications. An amount of P79.8 million has been disbursed to youth as at February 2022.
A total of 24 appeals have been received, which are likely to drive the figures upwards,” he said. YDF under MYSC is a half-grant and half-loan arrangement in which beneficiaries are expected to repay their loan component to enable government to sustain the programme and for them to demonstrate responsibility and accountability. A total of P4,632,739 against an annual target of P4 million was paid back by youth businesses as the loan component for their funded projects. According to the youth minister, the amount is satisfactory considering the negative impact of the pandemic on many youth businesses. “We also continued to monitor funded projects and supported some of the YDF beneficiaries with the provision of operational spaces, capacity building and marketing. A total of 1,133 businesses were visited for monitoring across the country against an annual target of 1,220.
Although most of the youth businesses are struggling due to the economic impact of the pandemic, I am encouraged by some young people who have remained steadfast and committed to their businesses,” he said. Furthermore, Rakgare appreciated 10 successful YDF businesses, which included Ronreag Investments – a Gumare-based toilet hire business, Zwekethubojwa and Sons – a Shakawe-based waste management business, Tap and Die Investments – a Seronga-based auto spares business, Tlokweng-based Precious Guest House, Sugar Nails beauty therapy business, REECA Travel and Tours, Chidzanani Pharmacy, Copza Weaner Production – a Gantsi-based beef production business, Blue Colour Wheel – a Kasane-based daycare, and LA Signature Bed and Breakfast in Francistown.