The Ugandan government has announced plans to establish a Shs117 billion graduate fund targeting over 5,000 unemployed university graduates who completed their studies at least two years ago. This initiative aims to create startup opportunities for young graduates, support them in establishing income-generating ventures, and provide practical exposure to the labour market. The proposed fund is expected to play a significant role in addressing unemployment among young people in Uganda.
The Minister of State for Youth and Children Affairs, Dr. Mercy Faith Lakisa, revealed that the proposal has already received endorsement from President Yoweri Museveni. The Ministry of Gender, Labour and Social Development has prepared the necessary documentation for submission to the President and Cabinet for final approval. Once approved, the fund will be rolled out in the coming months, providing an additional avenue for unemployed graduates to turn their academic qualifications into practical economic opportunities.
Prospective beneficiaries of the graduate fund will undergo mentorship and guidance before accessing the funds. This mentorship programme aims to equip them with the knowledge and skills required to manage the financial support effectively and establish sustainable ventures. Dr. Lakisa encouraged young people to embrace government youth empowerment programmes, noting that the proposed graduate fund will complement existing initiatives aimed at addressing unemployment, promoting entrepreneurship, and improving livelihoods among young people.
The graduate fund is part of the government's efforts to address the growing unemployment problem among young people in Uganda. According to Dr. Lakisa, the initiative will contribute to job creation and national development. The fund will support unemployed graduates in establishing their own income-generating ventures, thereby reducing the unemployment rate and promoting economic growth.
The Ministry of Gender, Labour and Social Development is expected to play a crucial role in the implementation of the graduate fund. The ministry has prepared the necessary documentation for submission to the President and Cabinet for final approval. Once approved, the ministry will oversee the rollout of the fund and ensure that it reaches the intended beneficiaries.
The proposed graduate fund has been welcomed by young people in Uganda, who see it as an opportunity to turn their academic qualifications into practical economic opportunities. The fund is expected to have a positive impact on the lives of over 5,000 unemployed graduates, providing them with the financial support and mentorship needed to establish sustainable ventures.
The Ugandan government has taken a significant step towards addressing unemployment among young people with the proposal of the Shs117 billion graduate fund. If approved, the initiative will provide an additional avenue for unemployed graduates to access financial support and mentorship, thereby contributing to job creation and national development. The government is expected to finalize the approval process in the coming months.
Key points
- The proposed graduate fund targets over 5,000 unemployed university graduates who completed their studies at least two years ago.
- The fund aims to create startup opportunities for young graduates, support them in establishing income-generating ventures, and provide practical exposure to the labour market.
- The proposal has already received endorsement from President Yoweri Museveni, and the Ministry of Gender, Labour and Social Development has prepared the necessary documentation for submission to the President and Cabinet for final approval.
