HomeLocal NewsYouth Fund defaulters face legal action

Youth Fund defaulters face legal action

HUNDREDS of Youth Development Fund beneficiaries face legal action after government told the banks which bankrolled the scheme to treat them as any other loan defaulters, the Zimbabwe Independent has learnt.

Elias Mambo

“The banks handed over names of loan defaulters and as government we advised them to handle the cases as they would treat any other loan defaulter,” a senior government official said. “Government cannot pay for them because they were responsible for their actions and banks should use whatever methods they have to make them pay.”

The official also said it is now up to the banks to attach property owned by defaulting youths. “The banks have their own mechanisms of recovering their money. It is up to them to attach and sell properties owned by the beneficiaries,” said the official.

Indigenisation minister Nhema also said some of the youths had disappeared and changed their addresses and telephone numbers to avoid paying up.

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