saviour.jpgGovernment has released US$ 650 000 dollars from the Youth Empowerment fund to capacitate young people engaging in business. 

The 650 000 dollar disbursement is part of a million dollars availed to the ministry of Youth Development, Indigenization and Empowerment by treasury to aid youth initiated business projects.

 

400 thousand will be disbursed through the Commercial bank of Zimbabwe (CBZ) while 250 thousand dollars will be availed through the Infrastructure development bank of Zimbabwe (IDBZ).

 

Youth Development, Indigenization and Empowerment Minister Cde Savior Kasukuwere said the disbursement is a response to the request by the youth who have been seeking capital to start business projects or recapitalize ongoing ventures.

 

“We are calling on young people to submit their proposals to us. We want to see young people be able to get access to funding with no stringent demands for collateral…the banks will asses their project proposals and these will act as guarantees on whether they can pay back,” said Mr. Kasukuwere .

 

CBZ Chief Operating Officer Mr. Peter Zimunya said the funding released to the youth had come at an opportune time as there is demand for cash, while IDBZ Chief Executive Officer Mr. Charles Chikaura expressed readiness to guide the youth in efficiently utilizing the funds.

 

“We are very excited to be given this opportunity to assist youth and we are rearing to go,” said Mr.Chikaura.

 

Of the remaining 350 000 dollars which is part of the youth development fund, 150 000 dollars has been set aside for the youth in vocational training centres to help kick-start their projects once they complete training. 

 

Minister Kasukuwere said the funds released today are targeting all the youth interested in entrepreneurship regardless of affiliation to any youth groups or political party.