THE YOUTH EMPLOYMENT FUND UGANDA (YEFU) GRANT

 (Entrepreneurship Project)

 GENERAL NOTICE

 The management of Youth Employment Fund Uganda (YEFU) GRANT, wishes to inform all the Youths’ fraternity with apology, that the long way process of rectifying the youth fund programme has come to its final stage and below is all what shall be required to be a beneficiary of this programme :

 The Fund will be used to support growth of viable and sustainable SMEs by the youth in the private sector.

 Note: Following advice from financial technocrats, it has been decided upon that funds will be given to individual entrepreneurs not to groups, to curb the foresighted fraud that would be associated with group management of funds.

 Those who applied in their respective groups should re-apply as individuals due to slight alterations in the programme.

 Objective:

 To provide venture capital debt finance to viable projects proposed by the young entrepreneurs. The Fund therefore is aimed at supporting the growth of viable and sustainable SMEs in the private sector.

 Focus Sectors:

 The Fund is available to support the business Ventures owned by young entrepreneurs. Eligible sectors will include: manufacturing, agro-processing, primary agriculture, fisheries, livestock, health, transport, education, ICT, tourism, construction, printing and service contractors, Music industry among others.

 Eligibility:

 Any Ugandan Youth with a viable business plan/project is eligible to access funds regardless of social sects based on faith, tribe, culture or political influence as long as he/she can operate his/her business enterprise from Kampala for easy monitoring and evaluation of its progress by our project evaluation team.

 The eligible youth entrepreneurs should be aged between 18 and 35 years.

 Basic Requirements

 Each business project should be able to provide employment to at least four (4) people by the end of the loan period.

 Each borrower shall present at least three referees (security not necessary instead individuals /beneficiaries and their respective business enterprises shall be guarantors of their own). Rather referees must be persons of good repute within the local community.

 Eligible beneficiaries should be willing to receive advice and be ready to participate in financial skills training and mentoring for proper business management.

 Other requirements:

 Following the complaints from the youths’ fraternity, management, and the general stake holders’ delegates have agreed upon alterations made in the Requirements, terms and conditions to govern this programme and these are:

 1. Individuals:

 • A viable Business plan

 • Current identity card

 • Applicant’s location(current and where they hope to establish the business)

 • Must have three referees including his /her next of kin(no security required from them)

 • Should have an individual/ personal bank Account where funds shall be wired.

 • Applicants should clearly state people, he/she is going to operate with, with a clearly stated memorandum of Association (if any)

 • Two current passport photos

 • Proof of nationality and residence e.g. Personal/Residential Identity card, passport, birth certificate, voters’ card.

 2. Loan Amount:

 (a) Range of Minimum of UGX 100,000 and Maximum of UGX 5,000,000 (individual).

 (b) Minimum of UGX 500,000 and Maximum of UGX 25,000,000 for a Legal entity with at least five partners/shareholders.

 3. Features: Loan period:

 Maximum tenure of 4 (four) years inclusive of a maximum one year grace period.

 4. Borrowing: Each Borrower will benefit from the Fund only once.

 5. Period in which funds are expected

 Applicants with all the requirements above shall readily have funds right on their respective accounts in a period of Two weeks (by 17th/12/2012) after the submission of the requirements, application.

 WHERE TO PICK YOUTH FUND APPLICATION FORMS

 Youth fund application forms have been distributed at least in places where youths can easily access them to avoid the previous experiences.

 Forms can be picked from:

 • YMCA, Reception (Wandegeya)

 • Buganda Royal Institute Of Business And Technical Education, Reception (Mengo)

 • Uganda Institute of Information and Communications Technology (UICT), Reception (Nakawa, port bell Rd).

 • Management Training and Advisory Centre (MTAC), Reception (Nakawa).

 • Monaco Institute of Business and computer science, Reception (Kibuli).

 Note: Distributing of application forms in such institutes of vocational backgrounds does not necessarily mean only those youths in vocational institutes should apply.

 Rather, it is a programme for all Ugandan youths, regardless of any other factor that may be based upon to marginalize others, one is eligible, as long as he/she complies with the requirement stated above.

 Applicants should submit their application forms attached with all other requirements at 9:00 am on 3rd/12/2012 at City Hall. Where briefing shall be made following some financial advice from technocrats.

 Applicants shall be given contract bidding document on submission of fully filled application form with all the requirements stated above on that same day.