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IYD: Museveni to Launch ‘Youth for Business Innovation and Entrepreneurship’ Facility

The Minister of State for Youth and Children Affairs, Florence Nakiwala Kiyingi has revealed that the President will tomorrow August 12, which is the International Youth Day, launch the Youth for Business Innovation and Entrepreneurship facility during his IYD address at State House.

“The program complements already existing programs for the youths such as the Youth Livelihood Program, Youth Venture Capital Fund and Talent Support Schemes,” said Nakiwala.

The theme for this year’s International Youth Day commemoration is “Youth Engagement for Global Action”.

“The facility is designed to spur impact driven entrepreneurship and engage enterprises in tackling youth unemployment by leveraging innovations in selected economic sectors especially in the post COVID-19-era,” Nakiwala explained.

Nakiwala added that this year’s IYD theme highlights an opportunity for the youths in local communities to develop themselves in society much as it is the case at the next levels; national and global.

“Youths at the local community level should use their energies to develop themselves and the society. The national level in for formulating laws, policies and implementing them, while the global level is suited for addressing challenges that confront humanity,” she noted.

She noted that the Government is fully committed to the youth and effectively participates in decision making processes on youth-related concerns and in shaping the lives of the communities they live in.

“For example, the Youth Livelihood Program has disbursed a total of Shs 162 billion towards 20,421 youth projects since its inception in 2014. The funds have benefited 244,698 youth of whom 46% are female,” Nakiwala stated.

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According to Nakiwala, enhancing engagement of youth in all areas of development creates mutual understanding and proper adaptability of policies, programs and processes and most importantly, restores harmony and trust in public institutions, especially by the youth.

“The role of young people in addressing global challenges such as the COVID -19 pandemic and climate change effects is needed now more than ever. The vibrancy, innovativeness and population of the youth are a big asset in finding solutions to these challenges,” she concluded.

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