12 Dec 2016

Beneficiaries of Youth Development Fund (YDF) in the Maun region are struggling to pay back 50 per cent of the loan.

In an interview, department of youth acting district coordinator, Ms Gladys Kelebemang said since the inception of the fund in 2009, they funded 226 youth in the Maun region, which stretches from Phuduhudu to Tsau but only two managed to pay back the required 50 per cent of the loan.

The duo who are Ms Talita Moutlatsi and Ms Gontlemang Motumise completed paying back their 50 per cent loans owed to the ministry this year after they were funded in 2014/15 and 2009/10 financial year at a tune of P 99 999.30 and P47 100 respectively, said Ms Kelebemang.

She urged young people to give their businesses the seriousness they deserved to improve their lives. Ms Kelebemang said most of the youth tend to spend their profits on things that will not add value or generate income for their businesses making it difficult to pay back their loans.

She further advised young people that this fund is not 100 per cent grant hence they should pay 50 per cent of the total money they were funded with so that more youths could continue to benefit from fund.

For her part, Ms Motumise said she was funded with P47 100 in 2009/10 financial year and it took her five years to complete paying back the loan because of the challenges she met in her business adding that she has long been willing to pay back the loan if she could have successfully managed to make profit. ENDS