Staff reporter
Micro-financial institution, EmpowerBank is registering success stories in Mashonaland Central Province following the availing of financial support to over 40 disabled youths in Mbire District with interests in the agro-business sector.
In addition, two youths in Mazowe District who received assistance from the EmpowerBank have since become successfully established, a development that has seen more youths with interests in farming coming on board.
“We are working closely with the youths in Mashonaland Central. In Mbire District, we have assisted over 40 youths with loans to start their small business. Some of these youths are into gardening, poultry and piggery. In Mazowe District, there are youths who have succeeded through the loans they got from our bank,” said EmpowerBank CEO Shadreck Mhembere.
According to Mhembere, the bank is increasingly becoming overwhelmed by youths requesting financial assistance particularly those in the agriculture sector, and the bank looks forward to partnering with the Ministry of Youth, Sport, Arts and Recreation so that more qualifying youths can benefit from its micro-financing programs.
These developments come on the backdrop of the bank’s thrust of social and economic inclusion where it targets to empower marginalized communities mainly youths and assist small businesses to spur wealth and employment creation.
Mhembere indicated that beneficiaries of the bank’s financing were complying with their loan repayment obligations.
“Our team is on the ground monitoring the projects and making sure youths repay their loans. The majority of them are complying and the results are positive,” he added.
In addition to the current beneficiaries on board, EmpowerBank is working with traditional and community leaders in trying to identify young people who qualify for financing in other provinces apart from Mashonaland Central.
The EmpowerBank initiatives tie into Government’s National Development Strategy Phase One (NDS1) in trying to create employment and achieving self sustainance towards the attainment of Vision 2030.
