By. Rogers Damba
The youth and children affairs minister, Hon. Florence Nakiwala Kiyingi reveals that the government has availed UGX.6.6 billion to support all youth who lost business and jobs during the COVID 19 lock down.
Since March when the president announced the lock down, to May when he announced partial lock down thousands of Ugandan lost their jobs and among them was the youth who were employed in various sectors and this has had a huge negative impact on the economy of this country.
The youth minister told journalists in Kampala today that among the youth to receive stimulus package from the UGX.6.6 billion include, performing artists, book writers, and journalists, sports personalities among others.
Government further states that the UGX.6.6 billion will be accessed by affected youth who will be registered by the ministries of education and gender.
The money with low-interest rates will also be accessed from Uganda development bank, Says the minister.
However, as the country joins the rest of the world to mark the global youth day slated for tomorrow 12th August 2020, Uganda will be launching a new youth support venture dubbed, Youth for business innovation and entrepreneurship facility which is going to complement the already existing youth venture capital livelihood fund among other funds which were set up to support youth in business. The fund which has supported 45,367 youth entrepreneurs,has revolved from the initial UGS.25 billion to UGX.146 billion cumulatively since 2012.
The youth for business innovation and entrepreneurship facility will be launched tomorrow by President Yoweri Kaguta Museveni during the youth celebrations which will be held at the statehouse.
Uganda has the world’s second youngest population with over 78 percent of its population below the age of 30.
With just under eight million youth aged 15-30, the country also has one of the highest youth unemployment rates in Sub-Saharan Africa. Although Uganda is making strides economically, it faces significant challenges in meeting its young people’s needs today and their challenges tomorrow as its population continues to grow at a rate of 3.2 percent annually.