Money makes the world go round. But, when you’re young, it can be difficult to obtain finances independently of your parents and guardians. As it turns out, the government will be launching a financing programme for Malaysian youths soon!
The programme, called e-Pemula, will be distributing RM300 million to over two million youths. Youths aged 18 to 20 years old, as well as full-time students in higher learning institutions, are eligible for the program. However, the RM300 million will not be given out as cash. Instead, it will be in the form of e-wallet credits.
According to finance minister Tengku Zafrul Aziz, the funds and financing facilities for youths have already been allocated during the Budget 2022. As an example, the minister brought up the Young Entrepreneur Financing Plan by Bank Simpanan National and Agrobank. The plan has RM150 million set aside for young entrepreneurs who require financial help.
For the e-Pemula programme, each eligible youth is entitled to RM150 e-wallet credits. Unfortunately, the supporting apps have yet to be confirmed. However, it is presumed that apps such as Touch n’ Go eWallet, ShopeePay and GrabPay will be included. Do take note that each person is only allowed to redeem the e-wallet credits once.
The finance minister claims there will be more financing programmes like this in the future. Additionally, they are hoping to hold such programmes annually. However, Tengku Aziz advised youths to practise financial management. The finance minister suggested youths familiarise themselves with investments, takaful and insurance plans.
If you are eligible for the e-Pemula programme, we suggest you take full advantage of it. After all, RM150 is nothing to scoff at!
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