BULAWAYO, Apr. 22 (NewsDay Live) – Government has launched a US$1 million Youth Economic Fund to widen access to finance for young entrepreneurs across all 10 provinces.
The fund, administered through EmpowerBank, was unveiled during National Youth Day celebrations held on the sidelines of the Zimbabwe International Trade Fair (ZITF), running from April 20 to 25.
It will channel financing to youth-led businesses to spur innovation and job creation in an economy where youth unemployment remains high.
Youth, Sport, Arts and Recreation minister Tino Machakaire linked the initiative to President Emmerson Mnangagwa’s 2025 National Youth Empowerment Strategy, describing it as a step toward integrating young people—who make up more than 60% of the estimated 16 million population—into the economy.
Central bank governor John Mushayavanhu attended the launch alongside representatives from the United Nations Population Fund (UNFPA) and the United Nations Development Programme (UNDP), signalling international support.
Discussions focused on financial literacy, access to capital and skills development for sustainable enterprises.
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Zimbabwe Youth Council chairperson Ruth Mugwagwa urged young people to prioritise job creation.
“Dream big and focus on creating jobs,” she said.
EmpowerBank will disburse and manage the fund nationwide, although eligibility criteria and application processes were not immediately disclosed.
The launch comes as Zimbabwe seeks to tackle high youth unemployment and position entrepreneurship at the centre of its economic recovery agenda.