Features Letter to the Editor

Don’t give loans to novices in business

Dear editor,
I WOULD like to find out who should benefit from the Citizens Economic Empowerment Commission (CEEC)’s financial support and the Youth Development Fund (YDF).
I think this money should only be lent to people with experience in business so that the chances of repaying are high.
For example if you want to obtain a loan from FINCA they will assess your capacity, knowledge and experience in business.
Currently it is risky to lend money under the CEEC and YDF because people are paying experts to write business plans and project proposals for them so that they can win approval.
They don’t even understand the contents of their own business plans.
They will get the money on the basis of the plan and then fail to pay back because of their lack of business experience.

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