AFDB Approves US$3.5 Million For Zimbabwean Youths And Women

1 year agoFri, 03 Jun 2022 17:00:20 GMT

AFDB Approves US$3.5 Million For Zimbabwean Youths And Women

The Africa Development Bank (AFDB) has stated that it has made an investment to the tune of US$3.5 million towards the creation of decent jobs for women and youths in the country.

The development was announced by Mr Kelvin Banda, the AFDB principal country economist. ZBC News’s Justin Mahlahla quotes him as saying:

We have already approved a new project. The sustainable enterprise development for women and youth project for an amount of about US$3.5 million. The new project will consolidate the gains that have been made to date. The aim of the new project is to improve incomes and creation of decent jobs for both women and youths.

Meanwhile, the Minister of Industry and Commerce, Dr Sekai Nzenza has encouraged young entrepreneurs to harness local resources and reduce the country’s import bill.

She made the remarks after touring exhibition stands at the inaugural national youth business expo in Bulawayo this Friday. She said:

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Now is the time for us as Zimbabweans to be innovative. This comes at a time when the Ministry of Industry is rolling out the local content strategy. Prof Murwira mentioned that we have got so many resources in this country. We are pushing for value addition because we have been exporting and we continue to export our products raw as they are. What I mean is we are not fully benefiting from our local resources.

Higher and Tertiary Education, Innovation, Science and Technology Development Minister, Professor Amon Murwira spoke on the need for self-belief to attain national goals.

Kirsty Coventry, the Minister of Youth, Sport, Arts and Recreation said young people were showing how resilient they are in driving the country’s development.

While the rate of unemployment is high in Zimbabwe, many youths are meaningfully occupied in the informal sector where they are yearning for government support mainly through the creation of an enabling environment and provision of capital.