LILONGWE-(MANA)-President Lazarus Chakwera has announced a K1 trillion loan initiative for Malawian youth, aiming to empower them through entrepreneurship.

He made the announcement during the Dolo Amavotera Chakwera Music Challenge grand finale at Bingu International Conference Centre (BICC) on Saturday in Lilongwe.

Chakwera emphasized that the loan will benefit not less than one million young people.

“This loan is a testament to our commitment to empowering the youth and promoting their entrepreneurial skills.

“Malawi is home to many talented artists who have yet to be discovered and we believe in the potential of our young people, and we’re committed to providing them with the resources they need to succeed,” explained Chakwera.

The President further praised the youth for their talent and thanked his running mate Vitumbiko Mumba for his dedication to promoting young artists through initiatives such as the Dolo Amavotera Chakwera Challenge which Chakwera said will help nurture and showcase the talents of the young people.

He further said that its his government’s desire to support the youth, including distributing K5 billion to artists through COSOMA, and providing bursaries to 40,000 students.

“As a leader, I’m committed to developing the youth and providing them with opportunities to thrive,” he said.

Chakwera also promised to appoint at least four cabinet members under the age of 35, demonstrating his commitment to youth representation in government.

“We want to ensure that our youth have a voice in decision-making processes, and that they are able to contribute to the development of our country,” he said.

The Dolo Amavotera Chakwera Music Challenge, which tasked participants with composing songs for the party, has provided a platform for young artists to showcase their talents and creativity.