Capital for youth remains one of the most significant barriers and opportunities for empowering young people to drive sustainable development. This was the central focus of the panel discussion, “Capital for Youth: Strategies to Improve Access to Financial Resources for Development,” held at the Annual Youth Forum. The session provided practical insights on equipping youth with the tools and knowledge to unlock their potential and access the financial resources needed to succeed.
Moderated by Daisy Chesang from the Global Development Incubator (GDI), the panel featured inspiring voices, including Fatuma Mwinjuma, GOYN Pathway Lead for Credit, Savings, and Entrepreneurship; Fadhili Secha, Youth Officer for Tanga City Council; and Abdallah Msellem, Chairperson of the Youth Advisory Group (YAG). These experts unpacked actionable strategies and solutions to help young people achieve economic independence.
What Does Opportunity Mean for Youth?
Opportunity for youth symbolizes the ability to harness potential, leverage resources, and create lasting change. However, for many young people, accessing financial capital remains a challenge. This panel explored how youth can turn their dreams into reality by addressing financial barriers and seizing available opportunities.
Key Insights from the Discussion
1. Equipping Youth with Financial Knowledge
Fatuma Mwinjuma underscored that financial literacy is a fundamental step toward success. She highlighted Youth Savings and Loans Associations (YSLA) as critical platforms for young people to develop financial discipline and access capital for business ventures.
Moreover, she emphasized the importance of drafting compelling business plans. “When you have a clear vision and the skills to articulate it, funding becomes more accessible,” Fatuma explained, reinforcing the need for both education and mentorship in financial management.
2. Government Support Through the Ten Percent Loan
Fadhili Secha shed light on the government’s Ten Percent Loan initiative, a program that allocates 10% of local council budgets as interest-free loans to youth, women, and individuals with disabilities. This initiative has transformed lives, enabling young entrepreneurs to establish sustainable businesses.
Secha commended collaborations with organizations like GOYN, which mentor and guide youth through the loan application process. These partnerships bridge the gap between opportunity and action, ensuring youth have the support they need to succeed.
3. Maximizing Resources Within Reach
Abdallah Msellem inspired attendees with his mantra, “Start with what you have.” He encouraged young people to identify and utilize their existing skills, pool resources with peers, and seek mentorship to create opportunities even in challenging circumstances.
Abdallah highlighted that success doesn’t always require waiting for external help. “Taking small, consistent steps with the resources at your disposal can lead to significant breakthroughs,” he remarked.
The Role of Mentorship in Youth Empowerment
The panel emphasized the transformative power of mentorship in fostering a proactive mindset among youth. Mentors can instill resilience, critical thinking, and goal-oriented attitudes, equipping young people with the confidence and tools to navigate their challenges.
Actionable Strategies for Youth Empowerment
To build a brighter future for youth, the panelists outlined several actionable solutions:
1. Build Awareness of Opportunities
- Conduct workshops and training sessions to help youth recognize and act on opportunities.
- Establish mentorship programs that provide ongoing guidance and encouragement.
2. Strengthen Access to Capital
- Expand financial programs like YSLA and the Ten Percent Loan initiative.
- Foster stronger collaboration between governments, NGOs, and organizations like GOYN to streamline access to funding.
3. Cultivate a Resourceful Mindset
- Encourage youth to leverage their existing skills and networks.
- Promote resilience, creativity, and teamwork through community engagement and problem-solving initiatives.
Closing Call to Action
The session concluded with a compelling message from Fatuma Mwinjuma:
“Usisubiri fursa ikufuate, changamkia fursa.” (Do not wait for opportunities to come to you; go out and seize them.)
Her words captured the spirit of the forum, inspiring attendees to take proactive steps toward achieving their goals. The panelists’ insights resonated deeply, reminding participants that the future belongs to those who act with purpose and determination.
With mentorship, financial literacy, and access to innovative programs, young people can overcome barriers and lead economic transformation in their communities. The time to act is now. Opportunities are within reach—waiting to be seized.
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