ZYC assisting in formalization of youth run enterprises

Bulawayo (New Ziana) -In a bid to ensure youths participate in the mainstream economy, the Zimbabwe Youth Council (ZYC) has facilitated the formalisation of more than 7 000 businesses run by young entrepreneurs throughout the country.

Over 61 percent of the country`s population is youths who can contribute to economic development if given an opportunity.

The youths are among the 2.4 million Micro, Small and Medium Enterprises (MSME) operating in Zimbabwe. The sector employs almost 5 million people on a full-time basis.

In an interview with New Ziana Friday, ZYC board member, Brian Sithole, said under the programme, 500 beneficiaries are people with disabilities, adding that this initiative will help young people to get new business opportunities.

“This initiative is very important because it helps young people to have access to new business opportunities. They will be able to be awarded tenders, contracts and other opportunities to supply both goods and services in a formal way,” he said.

He said to ensure the initiative succeeds, the ZYC has strengthened its partnership with the registrar of companies as well as ensuring that youths have access to cheaper loans through the Empower Bank.

The Empower bank is 100 percent registered micro bank regulated by Reserve Bank of Zimbabwe (RBZ) and was formed for the purpose of providing social and financial solutions to the financially excluded population with a greater focus on the youths.

Sithole said they have also created youth focal desks in all line Ministries at national and provincial level to ensure access to all government services.

He said through various partnerships they have been conducting training workshops and seminars across the country to ensure young entrepreneurs are linked to relevant stakeholders.

“We are carrying out capacity building programmes around Zimbabwe. There has also been registration of youth associations and lobbying for youth participation in key decision-making processes among other empowerment programmes,” he said.

New Ziana