HomeBusinessStandard Chartered lines up COVID-19 fund

Standard Chartered lines up COVID-19 fund

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BY BUSINESS WRITER

STANDARD Chartered Zimbabwe has launched a new community project to support young people in Zimbabwe recover from the economic impact of the COVID-19 pandemic.

The programme is part of the bank’s global initiative to tackle inequality by promoting economic inclusion for disadvantaged young people across its markets, including those affected by COVID-19.

Delivered by BOOST Fellowship, with funding from the Standard Chartered Foundation, the project aims to support young people between 18 and 25 years who are struggling to find work or start a business in today’s challenging economic environment.

Standard Chartered Bank Zimbabwe chief executive officer Ralph Watungwa said: “The global COVID-19 pandemic is impacting individuals, businesses and communities throughout our markets. Young people have been hit hard with dramatically fewer work and training opportunities available, and an uncertain future ahead. We are thrilled that Enactus Zimbabwe will be delivering this Futuremakers project to support young people in our communities.”

Executive director for BOOST Fellowship, Cleopatra Makoni said: “Young people globally and intensely our Zimbabwean youth have not been spared by the adverse effects of the COVID-19 pandemic. From missing classes, delayed career progression and reduced to nil availability of opportunities to develop the crucial skills required to enable them to get a good job and start a meaningful business and improve their respective communities. We are pleased to be able to support young people in need through this Futuremakers project”.

Ten winners of the Start Up Challenge will be awarded seed funding of US$1 000 each plus business incubation, scaling up and mentorship.

In 2020, Standard Chartered set up a US$50 million COVID-19 Global Charitable Fund to provide emergency relief and economic support for communities impacted by the pandemic.

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