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Natasha Chamba, Business Reporter
THE African Development Bank (AfDB) has commissioned a US$1,4 million study to ascertain the contribution of the jewellery manufacturing industry and its potential for job creation in Zimbabwe.
Women and the youth in the country are set to benefit from the initiative, which will also be rolled out to other African countries such as Sierra Leone and the Republic of Guinea.
“The African Development Bank has commissioned a study into the contribution of the jewellery manufacturing industry and its potential for job creation for women and youth in Sierra Leone, Zimbabwe and the Republic of Guinea,” the regional bank said in a statement.
“The initial US$1,4 million project will entail a value chain analysis study examining the sector’s contributions to value addition and job creation. It will be financed under the Bank’s Transition Support Facility and implemented over 24 months, in coordination with the relevant ministries and agencies in all three countries.”
AfDB said the proposed project aims to create “hundreds” of jobs in each of the three countries in addition to offering training in cutting, polishing and jewellery manufacturing for women and youth entrepreneurs operating in the jewellery manufacturing value chain.
The bank’s director for gender, women and civil society, Mrs Vanessa Moungar, was quoted in the statement saying the mining industry was a key player in many Sub-Saharan African economies.
“The mining industry plays a critical role in many Sub-Saharan African economies and offers great potential for sustainable job creation, private sector development and women’s empowerment. However, the resource boom has provided limited opportunities for the local population. With this project, the African Development Bank invests in downstream activities such as jewellery manufacturing, to stimulate local economies, foster inclusive growth and integrate African small to medium enterprises into global mineral value chains,” said Mrs Moungar.
The regional bank said the goal of the initiative was to address capacity gaps in jewellery manufacturing and assess its impact on value addition, job creation, and the economic empowerment of youth and women.
Additionally, the bank said there were unidentified opportunities for jewellery manufacturing in selected countries, hence the need to scale up initiatives through the provision of skills transfer and required technology.
The initial study would directly help to address the lack of skills and create a better understanding of adding value in the industry with the ultimate goal of reducing fragility in all three countries and building resilience.
Earlier this year AfDB also unveiled a US$61, 8 million facility aimed at assisting women entrepreneurs in Zimbabwe and across Africa in realising their business goals.
– @queentauruszw
Online Reporter