Youth Council seeks K1bn

National Youth Council of Malawi has set an ambitious target to raise K1 billion within six months to coordinate and promote youth economic empowerment to complement government’s efforts in dealing with high unemployment rate.

The council’s chief executive officer Dingiswayo Jere said unemployment is on the rise because of the low rate of job creators. He also said the funds government allocates to youth activities are not enough; hence, the council’s initiative to set up a Youth Innovation Fund.

Briefing journalists in Lilongwe yesterday, Jere said if the fund gets money, there will be an increase in job creation as innovators whose ideas end at the initial stage due to lack of support and funds, would get resources.

“This youth fund is coming in as an idea that came from the youths themselves who want the fund to support their own initiatives. That’s why we say let us be our own donors so that at the end of the day, we can have economically empowered youths and reduce the high rate of unemployment.”

Youths constitute about 75 percent of the country’s population. The recent Malawi Population and Housing Census report shows that 51 percent of the population is under the age of 18.

Ministry of Labour, Youth, Sports and Manpower Development Principal Secretary Joseph Mwandidya, who was present at the news conference, hailed the initiative, saying it was in line with government policies on promoting youth talent.

The fund has five thematic areas of promoting entrepreneurship culture, entrepreneurship education, promoting evidence-based advocacy, youth to youth fund and business development training services and access to finance for young entrepreneurs.

The Youth Council is seeking to partner one million people who can contribute K1 000 each towards the fund to be used to finance ideas in the areas of agribusiness, information and communications technology, environment and climate change. The contributions would be made through Airtel Money and National Bank of Malawi accounts.