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{
    "id": 130648,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/130648/?format=api",
    "text_counter": 509,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "I cannot fail to commend the Ministry and the Government because of thinking of the Youth Fund. This is a move in the right direction. However, alongside thinking about the youth through the Youth Fund, it is important to let the Minister know that the banks have taken advantage of this money. They charge the youth negotiation fee which is high. Some go to as high as 3 per cent, yet this is Government money. I think that is not fair. It is also good to realize that even as these banks charge negotiation fees, they still ask for security. When they ask for security and charge those high fees, that loan becomes more expensive than if the youth went to borrow normally from the bank. It is good for the Ministry to see how best it gives directives to the various institutions which control this Fund. They should be limited to charging a maximum of 1 per cent if not 0.5 per cent as negotiation fee. After all, what are they negotiating? This is Government money and they have only been given the money to administer. Yes, they should guarantee repayment but they should not be exploiting the youth by charging high negotiation fees. Madam Temporary Deputy Speaker, it is also good to let the Minister know that when you talk of security, it just chases the youth away. We agree that the money must be secured but we would rather think of an easier convenient system rather than subject the youth, who may be an orphan or daughter of a squatter--- These people do not have securities. Even when they have security, it could be communal land. The parents do not have any security that they can offer. We should think in terms of a system whereby the provincial administration; the Assistant Chief and the Chief, should be the ones to provide the guarantee. If the youth have to set up a business, it has to be within a specific locality. If they have to apply for these funds, there must be a provision where the Provincial Administration can come in and confirm that they know them and that they are of good conduct, their parents are So-and-So, they come from this specific village. They should give details of where the parents come from. Surely, if that is done, it will not be difficult to secure the money. It is also good for us to realize that we need to promote good morals among our youth. They should be of good character. Maybe, we can enjoin the church so that when a youth is applying for funds, as much as we are not promoting church activities in business, it is good for us to say that the youth should belong to a church choir or a church gathering. I imagine that a youth who is a regular member of a particular church would be of good character. It would be very important to see if we can coin the issue of Provincial Administration and the church to see if we can come up with a guaranteed system which would make the bank feel as if it is not exposed to the extent that it would lose its money. I believe that way, this money would become cheaper and so that they can access more funds and the repayments would become easier. Madam Temporary Deputy Speaker, Sir, it is also good to realize that most of our youth apply for these funds just because they are available. These youth may be straight from school and they are still searching for jobs, white collar jobs for that matter. However, since these funds are there, they imagine that they should apply for the money while they are looking for a job. Whenever there is an interview being conducted by the military, they close their businesses and go for the interviews. This kind of person is like a hyena. He walks on two paths. That is not possible. I wish we would restrict ourselves. First of all, the youth should either be from the polytechnic or from the Jua Kali sector. If you give these youths money, they would be sure that they are not going to join the police"
}