MINISTER INVITES YOUTH FUND DEFAULTERS TO SETTLE DEBTS

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BY MBONO MDLULI

MANZINI – Minister of Sports, Culture and Youth Affairs Bongani Nzima calls upon all Youth Fund defaulters to approach the Youth Entreprise Revolving Fund (YERF) with an intention to find out ways of resettling their debts.

The minister advised the defaulters to do so with a sense of urgency, before it was too late. He said failure to do so could result in a situation where the defaulters were blacklisted. Nzima said this today, December 19, 2024 at Alcon Business House in Manzini. This was during an event where the YERF was recognising Youth Fund beneficiaries who have been able to settle their debts in a diligent manner.

Nzima told the youth that Government did not intend to blacklist them, as that could have dire consequences in their lives.

“To the young entrepreneurs who have faced difficulties in meeting their loan obligations, I want to extend an open hand and a sincere invitation for you to come forward and make new repayment arrangements with the Eswatini Youth Enterprise Revolving Fund. It is crucial for you to know that it is not the Government’s desire to see young people blacklisted or to take legal action against defaulters. Instead, our goal is to support you in overcoming challenges and help pave a smoother path for your future,” Nzima said.

According to the minister, Government understood that the landscape of entrepreneurship could be complex, and unforeseen circumstances could arise, impacting their ability to fulfill financial commitments. However, the minister pointed out that it was essential to take the first step towards remedying the situation. By coming forward, Nzima said the youth could work with the Fund to establish mutually beneficial repayment plans that reflected their current circumstances. “We are here to listen, understand, and collaborate with you to create viable solutions,” Nzima said.

He emphasised that his Ministry’s vision for the future included not only recognising and rewarding those who have successfully complied with their repayment obligations, but also creating an inclusive environment, where all young entrepreneurs had the chance to thrive.

He expressed his wish to see more young entrepreneurs standing proud next year, having successfully repaid their loans in full and celebrating their achievements alongside their compliant peers.

GOVT TO REVIEW YOUTH FUND REGULATIONS TO ENHANCE ACCESSIBILITY

BY MBONO MDLULI

MANZINI – In order to enhance accessibility to the Youth Fund, Government wants to review the Youth Enterprise Revolving Fund (YERF) Regulations.

This was said by Minister of Sports, Culture and Youth Affairs Bongani Nzima. He said this today, December 19, 2024 at Alcon Business House in Manzini. This was during an event where the YERF was recognising Youth Fund beneficiaries who have been able to settle their debts in a diligent manner.

He said they were continuously exploring innovative policies and initiatives that facilitated a more conducive ecosystem for young entrepreneurs. “One such initiative is the review or amendments of the Youth Enterprise Revolving Fund regulations. This review aims to enhance our service delivery and improve turnaround times for loan applications, ensuring that our young entrepreneurs receive timely support and feedback,” Nzima said.

Moreover, the minister said the operationalisation of the Citizen Economic Empowerment Act of 2023 would create valuable opportunities by reserving Government procurement for vulnerable groups, including the youth, women, and people with disabilities. This move, according to Nzima, emphasised Government’s dedication to fostering inclusivity and ensuring that all segments of the society had access to the economic benefits afforded by Government tenders and state-owned enterprises.

Nzima said His Majesty’s Government remained committed to youth development programs and initiatives as part of the administration’s broader economic strategies outlined in the National Development Plan 2023/24 – 2027/28, along with the African Agenda 2030 and the Sustainable Development Goals (SDGs). “We recognise that our economic recovery and growth can only be achieved through the active participation and support of our youth,” Nzima said.

Nzima mentioned that all these initiatives were done to inculcate the spirit of entrepreneurship among the youth of Eswatini, as entrepreneurship was important in improving an economy. “Entrepreneurship is the backbone of economic growth and development, particularly among youth. As we know, young people are often at the forefront of innovation and creativity, as they bring fresh ideas and perspectives that can revitalise markets and communities,” Nzima said.

He said the youth’s entrepreneurial spirit contributed significantly to job creation, enhancing local economies, and fostering sustainable development. In a world that was constantly evolving, Nzima said the youth were proving that they were not just participants in the economy, but rather architects of its future.

“As we recognise and honour your accomplishments today, let us remember that every success story inspires not only those who come after but also strengthens our collective vision for a prosperous future. You are leaders in your communities, and your journeys will inspire others to take the plunge into entrepreneurship,” he said.

He commended the youth that was able to diligently pay back their Youth Fund loans, saying that their act helped many people, including Government. “Your success is a testament to the strength of your resolve and the hard work you have invested in your dreams. We commend you for your achievements and the resilience you have exhibited in your entrepreneurial pursuits,” Nzima said.

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