Senior Reporter
During a training session at Kabale District Rukiiko Hall in Kabale Municipality, it was revealed that a sum of Ugx 136 million has been allocated to 18 new youth groups through the Youth Livelihood Program (YLP) in Kabale District.
Organized by the office of the Kabale District Community Officer, the training aimed to educate these 18 youth groups on the proper utilization and repayment of the funds provided to them under the Youth Livelihood program.
Moses Akampurira, the Kabale District Community Development Officer, disclosed that the disbursed funds were part of the Ugx 310 Million recovered from a total of Ugx 965 Million distributed to youths since the program’s inception in the 2013/2014 financial year.
Akampurira emphasized the revolving nature of the YLP fund, stressing that it must be repaid within a maximum period of three years to enable other groups to benefit. He commended the Kabirago and Muguli Youth Groups from Rubaya sub-county for exemplary performance in timely fund recovery and notable progress in their agricultural ventures. In recognition of their diligence, the District extended additional capital to bolster their businesses.
Fred Kalyesubura, the Kabale District Administrative Officer, cautioned the youth against frivolous spending, urging them to utilize the funds judiciously to avoid future regrets. He assigned Sub-county Community Development officers the responsibility of guiding, supervising, and monitoring the youths to ensure proper usage and repayment of the disbursed funds.
The Youth Livelihood Programme, funded by the Government of Uganda, serves as a strategic response to the prevalent issues of high unemployment and poverty among the youth nationwide.
Operating as a revolving fund across all 146 Districts of Uganda, the program enables organized groups of youths to apply for and receive loans repayable within a maximum of three years, with an annual interest of 5%. Notably, interest is only levied in the second and third years of usage, incentivizing prompt repayment and alleviating financial burden for groups that settle their loans within the first year.
