Young people in Malawi fail to access business loans due to various sureties which lending institutions demand from them. Despite having the energy and determination to enhance their welfare, most young people do not have collateral to get loans and this prevents them from venturing into small and medium enterprises.
It is against this background that YONECO has supported some youth groups around Senzani area in Ntcheu district with a start-up capital of MK 2, 500,000. The groups are expected to use the amount in setting up various small scale businesses to enhance their welfare.
Ntcheu district youth officer, Emmanuel Devete urged the beneficiaries of this initiative to use seriously follow their business plans in order to succeed in their various ventures.
The initiative has been introduced under a project called Investing for Impact against HIV/AIDS among Young people which is being funded by Egmond Trust.
