Speaking at the CBZ Youth Entrepreneurs Program (YEP) Awards in Harare, Reserve Bank of Zimbabwe (RBZ) Supervision Division Deputy Director, Audrey Hove revealed that the central bank had set aside $10 million for income generating projects for youths. Said Hove,
The youth are excluded from formal financial services due to various factors including inadequate information on financial services and lack of acceptable collateral security.
In this regard, the Reserve Bank of Zimbabwe has established a number of empowerment facilities amounting to $381.51 million to benefit various priority groups that are financially excluded.
While the youth qualify to access funding across the facilities, $10 million has been specifically been set aside to support businesses and income generating projects by the youth
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The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe