Parly to hold public hearings on Youth Fund

Parliament will next month hold public hearings on the administration of the Youth Fund launched by Government to help unemployed youths start businesses.

The hearings will run from May 7 to 14.

These would be conducted by the Portfolio Committee on Youth, Indigenisation and Economic Empowerment chaired by Cde Justice Mayor Wadyajena

“The contributions made will be considered by the portfolio committee and will be part of the committee’s report to be tabled in Parliament,” reads the notice published by Parliament on Friday.

The Youth Fund was launched by Government in 2011 as a $10 million revolving facility supported by Old Mutual, targeting youths aged 18-35 years.

The fund has, however, been rocked by reports of abuse with very few of the intended beneficiaries benefiting.

Youth, Indigenisation and Economic Empowerment Minister Patrick Zhuwao was alleged to have directed the Zimbabwe Youth Council to pay $18 000 to a company involving former ZYC board member William Mutumanje alias Acie Lumumba ostensibly as consultation fees for organising a workshop to discuss youth empowerment strategies.

This was besides the fact that Lumumba’s company, Cornerstone Pvt Ltd, had indicated that they would do the work for free.

According to the notice, the hearings will be held in Victoria Falls, Kwekwe, Gokwe-Nembudziya, Bindura and Masvingo.

The disbursement of the funds was suspended in 2014 following a high default rate that stood at over 70 percent.

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