The government will tighten the collateral rules for the cheap loans provided to young people amid a spike in defaults that has seen the Youth Enterprise and Development Fund (YEDF) lose billions of taxpayers' cash.
In a new report published by the National Treasury, the government has disclosed a plan to abandon or tweak the current collateral arrangement for the loans offered through the Sh4.8 billion YEDF, a move that could herald the end of easy cash given by the State to help young people grow their businesses and reduce unemployment.
