By Cathy Maulidi
Youth and Society (Yas) has made its submission to the Treasury demanding that the upcoming budget should be youth-centred.
In its submission made on Wednesday, Yas has called on the Ministry of Finance to address barriers to education access, impose tax breaks on ICT equipment, tackle the high cost of living and enhance the effectiveness of youth empowerment programs.
The organisation also wants a budget that is targeted at completing strategic infrastructure projects, managing the debt crisis and fighting corruption.
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Yas Executive Director Charles Kajoloweka said empowering the youth is not merely a moral imperative but also an economic necessity for Malawi’s progress.
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He said by heeding the voices of young citizens and prioritizing their needs in the national budget, Malawi can harness the demographic dividend and pave the way for a brighter and more prosperous future for all.
“Yas is therefore recommending that the Higher Education Students’ Loans and Grants Board (HESLGB) be reviewed as current framework presents several limitations and challenges that impede equitable access to higher education financing,” Kajoloweka said.
Yas further calls for increased youth support through National Economic Empowerment Fund (Neef).
With increased funding towards Neef, economically marginalized groups such as youths can benefit through access to financial resources that can foster inclusive economic growth and thereby reducing poverty, according to Yas.
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“The current operational challenges facing the National Economic Empowerment Fund hinder its effectiveness in providing meaningful support to its target beneficiaries,” it says.
It recommends that Neef should consider relaxing its loan security requirements to increase access.
“By adopting a more flexible approach to collateral, Neef can facilitate greater participation and enable aspiring entrepreneurs to access financial assistance. Timely funding disbursement should also be prioritized and there is also need to depoliticize the Fund,” Kajoloweka said.
Yas has also proposed a tax break on ICT equipment to improve Malawi’s digital transformation efforts.
Secretary to Treasury Betchani Tchereni confirmed receiving Yas’ submission and said they are considering it.
Minister of Finance Simplex Chithyola Banda is expected to present the national budget on Friday this week.
