According to the Zimbabwe Youth Council (ZYC) website, youth loans amounting to US$306 880 have been approved as of February 22 against US$91 827 disbursed. It would be fair to say that after the launch US$91 827 has been disbursed out of US$11 million, which is just 0,835% of that amount. At this rate, it would take almost 30 years for the youth fund to be fully utilised.
Surely youths born in 1980 would be nearing retirement by then. So is the Youth Fund an urban legend or fable consisting of stories that may or may not have been believed by their tellers to be true?
With those figures in mind I felt it was an insult for a communications officer at ZYC to say in the media recently that the youth are failing to put ideas on the table to get funds.
An undisputed legacy of President Robert Mugabe is his enthusiasm for education which saw Zimbabwe achieving the highest literacy rate in Africa. So I think it’s a fallacy to say Zimbabweans have no ideas. So is the Youth Fund just raising false hopes?
Let’s hope the Youth Fund does not turn into an urban legend that never actually materialises.