Barely a week after launching of the Women’s Bank, the ever busy Zimababwean President Emmerson Mnangagwa is set to launch a Youth Bank on Thursday in a bid to empower the country’s future workforce.
In 2006, the Ministry of Youth, Indigenisation and Economic Empowerment unveiled the Youth Empowerment Fund aimed at supporting youths and development as a loan facility for income generating projects.
The fund was however suspended after reports of abuse emerged.
Analysts maintain that the fund beneficiaries were not adequately trained or supervised as they undertook their projects.
Minister of Sport, Arts and Recreation Raymond Kazembe is on record saying President Mnangagwa is a man of action and the bank is set to be launched soon.
He said vocational training centres were being set up in every district in the country to ensure that all youths get the required training.
Despite having a busy schedule as the country goes into the 2018 harmonised elections in a few weeks, President Mnangagwa has shown commitment to empowering the most vulnerable groups.
Unemployment remains the major challenge facing the youths who constitute more that 60 percent of the country’s population.
In his inauguration address in November last year, President Mnangagwa said his government's thrust was to create jobs.
“Our economic policy will be directed for job, job, job creation," he said.
As the presidential candidate for Zanu- Pf, President Mnangagwa has reiterated his mantra on employment creation and economic development on the party's manifesto.
"On job creation, the party promises to increase employment creation in several sectors such agriculture, manufacturing, mining, tourism and service sectors as well as infrastructural development projects. The party is also aiming at transforming Zimbabwe into a regional logistics hub by way of implementing Special Economic Zones and development of business incubation centres.
“Going forward, the party’s ‘Zimbabwe is open for business’ strategy, complemented by improved ease and cost of doing business as well as its commitment to unity, fighting corruption, re-engagement, development and job creation, will transform the livelihoods of the people.”