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Got avails US$2.5 mln for youths

The government has said youths who undergo capacity building programmes and with viable business projects should access loans.

In a move that is expected to assist young entrepreneurs who have created over 90 000 jobs in the last few years, the government has availed US$2.5 million to help the young business people to boost their operations.

Youth Indigenisation and Economic Empowerment Minister, Cde Patrick Zhuwawo  who was in Gwanda this Thursday (yesterday) for the Zimbabwe Champions and Heroes of Economic Empowerment Revolution (ZIMCHEER) programme said before extending financial support to the entrepreneurs they need to receive capacity building training.

Cde Zhuwawo also emphasized that only those with viable businesses can access the loans.

Entrepreneurs who spoke to the ZBC News welcomed the intervention by government saying they are committed to contributing towards the turnaround of the country ‘s economy.

The decision to loan money to established entrepreneurs is to avoid the high default rate that was experienced with the CABS Youth Fund.

In Matabeleland South only 102 youths accessed the CABS funding out of the 800 project proposals submitted.

Source :

zbc

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