The Government has launched the Youth Economic Empowerment Fund in Manicaland Province, expanding access to affordable financing for young entrepreneurs as part of the Second Republic’s drive to empower youths and accelerate inclusive economic development.
The provincial rollout follows the launch of the national US$1 million Youth Economic Empowerment Fund by President Emmerson Mnangagwa, during the Zimbabwe International Trade Fair (ZITF) in April this year.
In a statement, yesterday, the Ministry of Youth Empowerment, Development and Vocational Training said the fund is already transforming lives in Manicaland, where young entrepreneurs are utilising the financial support to scale up operations, create employment opportunities and invest in innovative business ventures.
“The Youth Economic Empowerment Fund is a strategic intervention by the Government aimed at unlocking the immense potential of young people by providing them with access to affordable and sustainable financing.
The provincial rollout in Manicaland marks another important milestone in ensuring that no young person with viable business ideas is left behind,” the Ministry said.
The Ministry said the fund demonstrates the Government’s commitment to creating an enabling environment for youth-led enterprises to thrive and contribute meaningfully to national development.
“Young people are at the centre of Zimbabwe’s economic transformation agenda. Through the Youth Economic Empowerment Fund, Government is equipping youths with the financial tools required to establish and grow businesses that contribute to job creation, industrialisation and economic prosperity in line with Vision 2030,” said the Ministry.
It added that beneficiaries in Manicaland have begun leveraging the loans to diversify their enterprises and improve productivity across various sectors of the economy.
“The positive uptake of the fund by young entrepreneurs in Manicaland is encouraging and demonstrates the critical role that access to finance plays in unlocking business potential.
Beyond empowering individual beneficiaries, the initiative is stimulating local economic growth through the creation of sustainable livelihoods and employment opportunities for communities,” the Ministry said.
The Youth Economic Empowerment Fund forms part of broader Government efforts to promote youth participation in economic activities and ensure that young Zimbabweans become active contributors to national development.
Government expects the provincial rollouts to further broaden financial inclusion among youths as Zimbabwe advances its Vision 2030 goal of becoming an empowered and prosperous upper-middle-income society.
