By ADRIAN MWANZATHE Ministry of Youth, Sport and Child Development has lost K82, 968,739 from defaulting youths who were empowered through the government’s various youth empowerment programmes, says the latest Auditor General’s report.According to the report, Government spent K88, 916, 306 for empowerment of over 12, 836 youths.The report indicated that as at December 31, 2020 only K5, 947, 567 had been recovered, leaving a balance of K82, 968, 739.Government in 2012, 2013 and 2014 disbursed K52, 000, 000 for the Youth Development Fund which was aimed at providing capital to youth-led micro, small and medium enterprises for wealth and employment creation.The loans ranged from K2, 500 to K50, 000 with a repayment period of five years.However, as at December 31, 2020 only K2, 800, 000 had been recovered, leaving a balance of K49, 200, 000 representing a default rate of 95 percent consequently, the scheme was suspended in December 2018. The report indicated that the […]
K82M LOST
