🇿🇼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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President Emmerson Mnangagwa has presented recently retired Chief Justice Luke Malaba with an agricultural mechanisation package, less than a month after Malaba left office. Malaba, who retired on May 14 after reaching the mandatory retirement age, was received at State House on Friday. The package included a tractor, Nissan UD truck, boom sprayer, and planter. Mnangagwa stated on social media that the package was in recognition of Malaba’s decades of service to the judiciary, citing his outstanding service, unwavering commitment, and exemplary legal leadership. Malaba's tenure was marked by controversy, particularly following his 2021 term extension under Constitutional Amendment No. 2, which allowed judges to remain in office for up to five additional years beyond the previous retirement age of 70, subject to medical fitness and presidential approval. This amendment was introduced as Malaba approached retirement, leading to legal challenges from critics who argued it undermined judicial independence. The Constitutional Court ultimately upheld the amendment, allowing Malaba to remain in office until his retirement this year. During his time as Chief Justice, Malaba presided over several politically significant cases, including election disputes and constitutional matters. His retirement paved the way for Chief Justice Paddington Garwe to assume the country’s highest judicial office. This presentation of farming equipment represents one of the most substantial public rewards
Harare is set to host the CAVB Zone VI Senior Nations Championship Qualifiers from June 7 to 14 at Sunrise Sports Club, as Zimbabwe, Malawi, Namibia, and Zambia compete for regional supremacy and a step towards the Los Angeles 2028 Olympic Games. Zimbabwe Volleyball Association secretary-general Priestledge Nhamburo stated that preparations are in their final phase, with national teams, known as The Eagles, transitioning from physical conditioning to tactical drilling. Nhamburo acknowledged that a recent Battle of the Zambezi tournament in Zambia, where Zimbabwe faced some of the upcoming opponents, helped identify and address tactical gaps. He emphasized that the "razor-thin" gap in Zone VI means execution under pressure will be key. Nhamburo also embraced the pressure of hosting an Olympic qualification pathway event, inviting the volleyball community and the nation to support the teams and help make history on home soil.
Air Zimbabwe is reportedly looking to revive its London route through a partnership with a Spanish carrier. However, questions have been raised regarding the suitability and details of the proposed partner airline. This development comes as the Zimbabwe Stock Exchange ZSE has received approval to launch an SME-focused exchange, which will operate through two market segments: ZEEX Private Markets and ZEEX Public Markets. Meanwhile, ART operations have been affected by power outages and raw material shortages, leading to a decline in export and paper division volumes by 6% and 26% respectively in the third quarter to June 2022.
Must ReadTimothy Masviba, Mashonaland West youth league secretary of Mines, Energy and Development, emphasized that formalizing artisanal miners is crucial for Zimbabwe to achieve its US$12 billion mining industry target by 2030. The provincial strategy involves mobilizing artisanal, medium, and large-scale miners to invest in exploration and acquire modern mining equipment to increase tonnage. Efforts are underway to ensure miners produce gold and platinum free from conflict. The Mutapa Investment Fund is working to provide artisanal miners with essential knowledge, including proper shaft housekeeping, barring down, re-entry procedures, and understanding dangerous gases like carbon monoxide. The goal is for every artisanal miner who owns a shaft to receive training and certification. To address financing gaps, miners are being taught how to attract investors and build relationships with banks by consistently selling gold to Fidelity. Masviba noted improvements in combating side marketing, with the government now ensuring 100% payment in US dollars for gold deliveries to Fidelity and decentralizing Fidelity offices to make sales easier. Miners are also educated on the importance of selling to Fidelity for industry sustainability and to access incentives. While specific revenue figures for Mashonaland West were not provided, Masviba indicated significant income generation and visible community development. Regarding environmental damage, miners are being educated on rehabilitation prac