Staff Reporter
President Mnangagwa yesterday launched a US$7 million Presidential Youth Empowerment Scheme at Harare International Conference Centre (HICC).
This is an initiative which is aimed at fostering economic inclusion and self-reliance among Zimbabwe’s youth.
In his address at the official launch event, the President emphasised his administration’s commitment to youth development, stating that the initiative was a direct response to the needs expressed by young people across the country.
“My administration is a listening Government. You, the youth, spoke; I listened, and my Government is delivering,” President Mnangagwa declared.
The scheme, launched under the theme “Fuel Youth: Ignite the Future”, includes a US$2 million Presidential Youth Empowerment Revolving Fund for youth-led income-generating projects and a US$5 million Presidential Youth Mining Equipment Scheme to support young artisanal miners.
“The US$2 million fund must not be taken as a free handout but administered as a revolving one that issues loans which are paid back for the benefit of many more young people. The Youth Empowerment Bank will oversee the administration of the fund to ensure proper allocation and accountability,” President Mnangagwa said.
Beyond the initial US$7 million, the President announced that US$10 million from the US$50 million financing facility earmarked for irrigation development will be specifically reserved for youth in agriculture.
“I urge young Zimbabweans to seize these opportunities; no one and no place will be left behind as the nation marches toward its Vision 2030 goals. The aspirations and hopes of all the youth of our country, from Plumtree to Mutare and Chirundu to Beitbridge, form the bedrock, foundation, and main pillars of these projects,” President Mnangagwa said.
The President also warned against corruption and favouritism in the distribution of resources, calling for transparency and ethical conduct.
“As you distribute these resources, I urge you to exercise high levels of morality and ethical consideration. No to favouritism and corruption. I want this to be an enduring and sustainable fund that benefits the majority of our country’s youth,” he stated.
Meanwhile, on the sidelines of the event, prominent youth leaders within Zimbabwe’s ZANU-PF party expressed strong support towards the Presidential Youth Empowerment Scheme.
John Paradza, the Deputy Secretary for Youth Affairs in ZANU-PF, emphasised the significance of the scheme, noting, “This empowerment fund is a game-changer for Zimbabwean youth. It provides the necessary resources for young entrepreneurs to thrive and contributes to the broader national economic development.”
Similarly, ZANU-PF Youth League Secretary for Administration, Tendai Chirau, lauded the initiative, stating, “The launch of the Presidential Youth Empowerment Scheme is a clear testament to President Mnangagwa’s unwavering commitment to youth development. This substantial investment will undoubtedly empower young people across the nation, fostering entrepreneurship and sustainable growth.”
