An investigation carried out by this paper indicated that most proposals were poorly structured and drafted.
Ninety percent of the proposals were focused on farming projects such as poultry and piggery. Most proposals also indicated that youths lacked basic knowledge in simple business principles and management skills and most were applying for the funds in order to venture into other activities.
One of the conditions of the Kurera/Ukondla loan is that all projects must have the potential to generate sustainable income for the project promoters and create employment for other youths.
Projects and services should be marketable and should preferably use locally available resources.
Manicaland Youth Development Officer, Controversy Marimbire, confirmed that a number of proposals were turned down after they failed to meet the criteria.
“Submitted proposals were very sketchy, shallow and revealed a lack of understanding of business management,” he said.
The Youths officer said some applicants displayed a blatant lack of innovation.
“We received lots of business proposals in the field of poultry. Pure common sense dictates that not all will be given the loan as this would lead to the flooding of one market.”
The Old Mutual Kurera/Ukondla Youth Empowerment Fund is being administered by Central African Banking Society. The youth being considered are between the ages of 18 and 35 who have bankable projects.
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