Govt recovers K17m loan repayments

 Govt recovers K17m loan repayments

Minister of Youth, Sports and Art, Elvis Nkandu says over K2.5 million has also been recovered from beneficiaries of other youth empowerment programs under his ministry.

Mr Nkandu said Government has in the last five months recovered about K17 million as loan repayments from beneficiaries of the fuel tankers.

“In the last five months, we have managed to recover about K17 million from youths that got fuel tankers in the last regime and also K2.5 million from other empowerment programs under my ministry,” he said.

Mr Nkandu expressed happiness with the repayment rate by the different beneficiaries across the country.

Mr Nkandu was speaking in Solwezi during the provincial launch of the national youth empowerment scheme.

He said Government has completed revising guidelines on the fuel tanker empowerment programme and will soon be giving out five tankers to each of the ten provinces.

“The Ministry has completed reviewing the guidelines regarding the fuel tankers and very soon we will be giving out 50 tankers to all the ten provinces,” he said.

Mr Nkandu said with the rate at which beneficiaries are paying back the loans, his ministry will be able to buy more fuel tankers and empower more youth cooperatives.

He said through the repayment rate, which is impressive; the ministry will be able to buy more tankers and empower as many youth cooperatives as we can.