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Nqobile Tshili, Chronicle Reporter
PRESIDENT Mnangagwa has said Government will continue to financially support initiatives run by women as 85 percent were paying back their loans, outperforming their male counterparts who have a high default rate.
He said 85 percent of the women were paying back their loans while only 30 percent of men were doing the same.
President Mnangagwa said this during the Concord Young Women in Business Global ICT graduation ceremony held at the Zimbabwe International Exhibition Centre in Bulawayo last Thursday.
He said Government continues to implement policies that mainstream women in economic development.
“We formed the Women’s Bank and the Youth Empowerment Bank but when you look at the results 85 percent of the women paid back their loans but with the youths and men less than 30 percent are paying back loans. So, we will be happier to assist the women who are more responsible than men and this is fact.
“Let me assure you that we will give you maximum support,” said President Mnangagwa.
Women’s Bank has provided loans to 114 000 applicants since its inception in 2018.
The bank was formed to promote financial inclusion for women.
President Mnangagwa said Government also supports talented students at the country’s universities to drive technological development.
The Government established innovation hubs at State universities to support innovative youths to develop transformative innovations.
“The private sector should also play their part in supporting Government initiatives through investing in research and ICTs including partnering our young boys and girls at the innovation hubs and industrial parks at our institutions of higher learning,” said President Mnangagwa.
“It is my expectation, therefore, that the adoption and prioritisation of ICTs solutions will lead to the production of goods and services as well as enhancing the ease of doing business.”
The President said through the Ilizwe lakhiwa ngabaninilo/Nyika Inovakwa nevene vayo philosophy, the Second Republic is committed to ensuring that Zimbabweans become masters of their destiny.
He said the country’s citizens should not think that there is a foreigner who will come and develop Zimbabwe.
“Those people developed their countries themselves brick upon brick, stone upon stone. We should do the same. It is science and technology innovation and inventions that built those developed countries. If we have a mentality that those countries will come and develop for us then we are lost. They only come here because we have the resources they want,” he said.
President Mnangagwa said foreign investors should conform to the country’s developmental agenda.
“Let me assure you that under the Second Republic, those who come to invest in this country should do so in a manner that supports our vision. We will not accept anybody coming to implement their vision in our country. We have our own vision,” said President Mnangagwa.
“Those who want to come should come and assist us in our own vision, not their own vision.” — @nqotshili
Online Reporter