Melo Media | Tuesday, 19th December 2023 | Parliament Buildings | Lusaka
The Public Accounts Committee (PAC) was informed that a significant number of youth groups, specifically 70 out of 92, who received loans amounting to over K1.6 million during the tenure of the Patriotic Front (PF) administration in Northern Province, have absconded without fulfilling their loan repayment obligations.
The funds were allocated to the youth organizations through the Multi-Sectoral Youth Empowerment Programme, which abides by the 2020 guidelines stating that the initiative will operate on a loan basis for a duration of 36 months.
The loan recipients were obligated to repay the borrowed amount, along with a 10 percent administrative fee, to the Ministry of Youth, Sport, and Child Development. The repayment was to be made in monthly installments, which were determined based on the value of the loan received.
According to the report from the Auditor General, it was discovered that despite issuing loans amounting to K1,683,771 to 92 youth groups, the recoveries had not been made as of June 30, 2023, even though the grace period had already passed.
