According to youth and children affairs state minister Sarah Mateke, a total of shillings 305.6 billion has been disbursed to the youth and women to help them grow their companies.
Mateke stated that the monies were made available through the Youth Livelihood Programme (YLP) and the Uganda Women Entrepreneurship Programme (UWEP).
According to labor ministry statistics, 22,341 firms have received sh178.4 billion in financing, benefiting 258,953 youth through the YLP.
UWEP, on the other hand, has been accessible by 217,969 beneficiaries, who have supported 19,723 projects totaling shillings 127.3 billion since its beginning.
Mateke made the findings during a press conference at the Uganda Media Centre in Kampala on Wednesday.
The gender ministry is implementing YLP, a rolling government program begun in 2014 that targets underprivileged and unemployed youth in all districts across the country.
Meanwhile, UWEP was established in 2015 with the goal of increasing women’s access to financial services and providing them with skills for business growth, value addition, and marketing of their products and services.
Uganda will celebrate International Youth Day on August 18, 2023, according to the minister.
The ceremonies will be held at Kigezi High School in Kabale district, with the theme: Accelerating Recovery from Covid-19 and Full Implementation of the 2030 Agenda: The Role of the Youth.
The state minister remarked on the youth’s incredible resilience in taking the opportunity to lead the fight against COVID-19, raising awareness, assisting communities, and driving innovation.
“As we mark International Youth Day, we recognize their role in hastening our recovery from this pandemic, as well as their active contribution to the realization of the 2030 Agenda for Sustainable Development,” she said.
She, on the other hand, stated that Ugandans must recognize the necessity for ongoing investment and resources to achieve long-term growth and development.
Key concerns for increasing youth productivity, according to Nyirabashitsi, include increasing household incomes, agriculture commercialization, private sector support, infrastructural improvement, and strategic intervention and research.