Youths must learn to repay loans
THE Government of the republic of Zambia through the Ministry of Youth and Sport disburses loans to the youths so that the latter can venture in business enterprise as a way of generating income.
The loans once disbursed must be paid back so that other youths can benefit as well.
The challenge has been that most youths don’t pay back the loans thereby disadvantaging other beneficiaries.
The problem of some youths failing to pay back the loans has been there for very long time notably since inception of the programme. This is very unfortunate and the trend should not be allowed to continue.
Through youth empowerment with loans, they beneficiaries will become self-reliant and in the long run they will create employment for others.
To avert the problem of youths’ failure to pay back the loans, the government should stop giving loans to individuals and should instead start giving loans to the youth cooperatives. The youth cooperatives are easy to form.
To substantiate on the government suggestion to give loans to youth cooperatives, these cooperatives comprise people of different skills. When these people come together, they share ideas which will ultimately lead to the success of the business venture they have undertaken. In this way, it will be easy to pay back the loan to the government so that other youths can benefit as well.
All said and done, the government loans disbursed to the youths should serve as a revolving fund. This is because the loans when well utilised can help in creating employment opportunities for other people.