🇿🇼ZimbabweSouthern Africa
Zimbabwe launches $1 million youth fund at ZITF
via NewsDay Zimbabwe5 min read
The Zimbabwean government has launched a US$1 million Youth Economic Fund to enhance financial access for young entrepreneurs across all 10 provinces. Administered by EmpowerBank, the fund was introduced during National Youth Day celebrations held alongside the Zimbabwe International Trade Fair ZITF, which runs from April 20 to 25. The initiative aims to stimulate innovation and job creation through youth-led businesses, addressing the country's high youth unemployment rate. Youth, Sport, Arts and Recreation minister Tino Machakaire linked the fund to President Emmerson Mnangagwa’s 2025 National Youth Empowerment Strategy, emphasizing the integration of young people, who constitute over 60% of the estimated 16 million population, into the economy. The launch was attended by central bank governor John Mushayavanhu and representatives from the United Nations Population Fund UNFPA and the United Nations Development Programme UNDP, highlighting international support. Discussions at the event focused on financial literacy, access to capital, and skills development for sustainable enterprises. Zimbabwe Youth Council chairperson Ruth Mugwagwa encouraged young people to prioritize job creation. EmpowerBank will manage the nationwide disbursement of the fund, though specific eligibility criteria and application processes have not yet been disclosed. This launch is part of Zimbabwe's broader strategy to combat high youth unemployment and prioritize entrepreneurship in its economic reco
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Recent headlines in Zimbabwe highlight a range of pressing issues, including calls for graft charges against MPs accepting Chivayo's offer and internal Zanu PF conflict over Chivayo's donation. Teachers' unions express concerns about the impact of independence on their profession, while a report details a 'modern-day slavery' situation at Drummond Ranch. Kadoma authorities are addressing illegal car wash bays, and foreign military attachés have toured ARDA projects, commending Zimbabwe's agricultural efforts. The GMB has started paying outstanding arrears to farmers for grain deliveries. Economic news includes the upcoming debut of a gold-backed ETF on the VFEX and discussions around the VFEX's stability. Political analyses touch on Zanu PF's potential actions towards a referendum and the influence of shadowy cartels. Other reports cover outrage over bicycle distribution to war veterans, Zimbabwe's 46th anniversary and the 'curse of permanent officials' in Africa, and a new ZIDA platform aimed at converting investor interest into deals. The Castellion job evaluation system is also discussed, alongside a roadmap for Zimbabwe's lithium economy and a local athlete's success in the Scottish Premiership.