adminFinance Minister Tendai Biti proposed the ‘Job Fund’ in the 2012 National Budget as a vehicle whose primary purpose is to provide seed capital for emerging entrepreneurs.
In this respect, Stanbic Bank (who will also administer the fund) has set aside an initial capital for the fund of US$20 million.
Global Workforce Solutions principal consultant Mr Anthony Jongwe said indigenisation should be the overarching policy for all economic development programmes.
“The Job Fund announced by Minister Biti needs to be predicated on the aspirations of the on-going indigenisation and economic empowerment programme if it is to be truly relevant. The fund needs to shrug off its perceived image as a partisan tool that is opposed to the broader indigenisation and economic empowerment programme if it is to be taken seriously by all stakeholders.
“Thus it means it should be located within the purview of the indigenisation and economic empowerment programme,” said Mr Jongwe.
Zimbabwe’s unemployment levels estimated at around 80 percent, and the indigenisation programme is anticipated to boost entrepreneurship among youths.
Statistics from the Ministry of Youth Development, Indigenisation and Empowerment show that over 650 youths and youth organisations/companies from across the country have benefited from the Youth Development Fund.
The Youth Development Fund, which was set up by the Government through the Ministry of Youth is administered through
Youth Empowerment Facilities managed by CBZ Bank and the Infrastructure Development Bank of Zimbabwe.
Mr Jongwe believes that Zimbabwe can draw lessons from South Africa’s experience with its Black Economic Empowerment (BEE) programme.
“South Africa has set a clear standard in this regard which can guide us as a country. The South African government understands the potential of the BEE programme in addressing unemployment and so it crafts all its policies to support this overarching programme.
“This is the stance we need in Zimbabwe; indigenisation and economic empowerment provides an effective platform upon which pervasive unemployment can be redressed in Zimbabwe,” he said.
Zimbabwe will be producing in excess of 10 000 graduates annually from universities, polytechnics, teachers’ colleges and other institutions of vocational training, including graduates from foreign universities and colleges.
Mr Jongwe contends that the Government can improve on the allocation of educational resources.
“A World Bank study has shown the positive relationship between the number of graduates in a country and its level of development and productivity. However, what is significant about this study is that it confirms that countries which spend more in training graduates in science and technology tend to develop faster and experience higher levels of productivity than those countries which do not do so.”
Online Reporter