Covid-19 youth business funds ready

More than 4 500 youths across the country have applied for grants under the Covid-19 Relief Fund for Youth-led businesses and associations.

The grants were announced by the Government last month to cushion young people against the economic shocks of the pandemic.

According to the Zimbabwe Youth Council, which is administering the fund, more than $10 million of the $17 million kitty was ready for disbursement to the first batch of beneficiaries.

ZYC spokesperson Mr Tanzikwa Guranungo said youths in various economic sectors including agriculture, mining, healthcare, transport and vending had applied for the grants.

He, however, said they were concerned that most youths in rural areas did not have access to the internet for online applications.

“We have advised our provincial district and ward officers in the Ministry of Youth as well as provincial managers from the Zimbabwe Youth Council to create a database of the youth enterprises in their respective areas so that they also benefit from this grant,” he said.

“We encourage young people to continue applying online through the ZYC social media platforms. It should be noted that this is a grant, not a loan, so the (repayment) conditions are flexible.”

Announcing the $17 million fund, a fortnight ago, Minister of Youth, Sport, Arts and Recreation Dr Kirsty Coventry said beneficiaries must provide tangible evidence of how their operations had been affected by the Covid 19 pandemic.

“Their project/business must have a formalised structure and comply with the statutory requirements governing that sector,” Dr Coventry said.

“Enterprises helping to combat Covid-19 will be given priority in the release of funds.

“The association or enterprise must be able to produce a bank statement dating back six months to a year prior to the lockdown and applicants should not have benefited from other Government Covid-19 relief facilities.”

Applicants are also required to provide proof of operation for a minimum of six months prior to the lockdown in the form of invoices, orders and delivery notes.