After the successful inaugural edition of the Youth Entrepreneurship Programme (YEP), diversified financial services group, CBZ Holdings, this week launched the much awaited second edition of the Youth Entrepreneurs Program (YEP) with a major investment of $110,000 for the year 2017 (up from S$48,000 in 2016).
In partnership with the Empowered Life Trust, CBZ Holdings Youth Entrepreneurs Program is a practical and results-based initiative to produce growth-oriented (not survivalist) profitable businesses that are run professionally by youth from all 10 Provinces in Zimbabwe. YEP is nurturing a new generation of (growth oriented) business persons.
Many young Zimbabweans graduating from universities, colleges and high schools have no option but to become entrepreneurs due to lack of employment. The program seeks to improve Zimbabwe youths including those who are in the rural areas through offering business opportunities which will in turn create employment opportunities.
YEP is in line with the Reserve Bank of Zimbabwe`s 2016-2020 National Financial Inclusion Strategy as part of efforts to foster economic and social development by increasing fiscal space for previously marginalised key players such as smallholder farmers, women, youth, micro-small to medium scale enterprises in the formal banking system.
The 2016 edition saw over 1000 young people from the country’s 10 provinces receiving extensive training – 20 received seed money to inject into their businesses, 10 provincial winners were rewarded while Pinky Sipho Mudzingwa from Midlands walked away with the top prize of US$3,000.00 with Kuda Chinya (Harare) and Alson Jasi (Bulawayo walking away with the 1st runner up (US$2,000.00) and 2nd runner (US$1,500.00) up prizes respectively. An online portal was also launched to facilitate further training for those that received the initial training.
This is enhanced through our weekly motivational radio show on StarFM, Shot in the Arm (every Wednesday from 9.30am to 10am). The 2017 edition has expanded the age group to between 18 – 35 years of age and it comes with the first prize of $10, 000, second prize of $7,500 and third prize of $5,000. The program will involve 2 – day outreach training to all ten Provinces of Zimbabwe. At least 150 participants will be selected to attend each workshop in each Province. For one to apply, they can go to the nearest CBZ Branch in their town, city or province and ask for the YEP Application Form, complete the form and return it to the same branch. Forms will be available in all CBZ Bank branches across the country starting from Monday the 7th of August and closing date for submitting these forms is the 21st of August 2017. Alternatively they can apply online on www.tinyurl.com/cbzyep2017
A few highlighters on what to look forward to this year….
1) The program will be piloted in 2 rural centres in Gutu and Umzingwane rural districts. Youths in those areas will be required to team up and form consortiums and come up with sustainable community projects that are entrepreneurial, to develop themselves and their communities at large.
2) A YEP Call Centre is now available for any questions, and queries regarding the YEP program and other entrepreneurship related questions and the YEP Call Centre numbers are 0782 489 653 for any enquiries and questions concerning YEP.
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