The Government has extended the Youth Economic Empowerment Fund to Manicaland, widening access to financing for young entrepreneurs. The rollout forms part of the nationwide implementation of the US$1 million facility.
Authorities continue introducing the programme across Zimbabwe. As a result, more young people can secure funding to start or grow businesses.
Minister of Youth Empowerment, Development and Vocational Training, Honourable Tino Machakaire, is launching the initiative today. The event is taking place at Magamba Vocational Training Centre in Mutare.
The latest launch represents another step in the Second Republic’s youth empowerment agenda. It also aims to strengthen entrepreneurship through improved access to capital.
Loan facility targets youth-owned businesses
The Government unveiled the US$1 million fund in April during the Youth in Business Forum. The event took place at the Zimbabwe International Trade Fair.
EmpowerBank manages the revolving loan facility. It targets Zimbabweans aged between 18 and 35 with viable business ideas.
Meanwhile, young entrepreneurs in several provinces have already begun accessing the funding. Many are using the loans to establish new ventures or expand existing enterprises.
The Manicaland launch will also explain the application process. Furthermore, officials will outline the eligibility requirements for prospective beneficiaries.
The programme seeks to equip more young Zimbabweans with financial support. Ultimately, it aims to boost business growth, job creation and economic participation nationwide.
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