National Youth Council of Malawi (NYCOM) says it has started a trust fund aimed at supporting the youth in their different entrepreneurial activities.
Chief Executive Officer for NYCOM Dingiswayo Jere said the trust fund is for K1 billion.
Jere said the idea came up because youth groups have for the past two years asking them for help in their activities and they needed more resources to support them.
“We started to mobilised the youth to start the National Youth Trust with K1 billion as seed money,” he said.
Explaining how they will raise money for the fund, Jere said they will engage one million Malawian youth to contribute K1,000 each, a project which started in May.
Speaking at the opening of the organisation’s first Youth Innovations Awards at Kamuzu Palace on Friday, Jere said the fund started in March.
Jere told the audience the money will help in the organisation’s drive to coordinate and support the youth activities as well as help and encourage others to do more.
“We want to make sure those who cannot thrive on their own can be helped in a coordinate approach.”
He cited the Malawi Housing and Population Survey, which said 70 percent of Malawians are the youth. “Malawi is a youthful nation, so we need to invest in the youth.”
The CEO said they want to help the youth who want to do something their life but are failing to do so because they do not have the means.
“We want to support the youth who have innovating those who cannot walk into the bank. Innovators are job creators, we cannot have jobs, we are encouraging innovative ideas which will develop this country.”
He said for a long time the youths have been looking at government for employment “We need to increase the resource base, to create more opportunity, we want to raise the bar of job creators dealing in that way dealing with unemployment.”
Jere said the desire of NYCOM is to make the award presentation annual, adding they also want to recognize the youth in the districts and at regional level.