FRIDAY BULLETIN—The Youth Enterprise Fund is exploring ways to reach out to young Muslims to benefit from the fund.
Speaking over the weekend, the Youth Enterprise Fund chief executive officer Dr. Catherine Namuye acknowledged that many Muslim youth have not been forthcoming to access the funds, a factor which he attributed to the interest charged on the disbursed loans which is against Islamic teachings.
“Our loans attract an interest charge. We understand the Islamic shariah’s stance on interest and we are working out ways on how to make the fund Shariah compliant so that we can reach also Muslim youth,” Namuye said.
She explained that most youth are unemployed and face serious challenges in life development and challenged them to start business ideas and venture into self-employment.
She said 70 per cent of youth are unemployed and by having access to the Youth Fund, they can be able to initiate entrepreneurial small scale enterprises.
“We fund even the start-ups businesses for either an individual or groups and also carry out capacity building and advice on marketing strategies for the products of youth funded by YEF,” she added.
She was speaking to youth delegates attending the Youth Alliance for Leadership and Development in Africa (YALDA) held at the United States International University(USIU) Nairobi last week. The forum brought together youth representatives from various African countries to discuss issues facing young people.
