Govt to fund start-ups

Leroy Dzenga Herald Correspondent
Government will from next year begin providing graduates with funds to implement their business ideas, a Cabinet Minister has said.

In an interview with The Herald, Higher and Tertiary Education, Science and Technology Development Minister Professor Amon Murwira said there will be a revolving fund dedicated to incubating ideas by college graduates.

“People need skills, but they are not enough, there is also the money component which needs to be addressed objectively,” he said.

“So, as Government, through the Cabinet committee on job creation which I chair, decided there is going to be Graduate Employment Empowerment Programme. This will be seed money given to start-ups created by our graduates.

“We will not be giving the money to individuals, they have to form companies or consortiums to access it. The people will have to prove the bankability of their idea to get the funds.”

The fund will be incorporated in the forthcoming 2020 National Budget and the rollout will begin next year.

Prof Murwira said this on the sidelines of the commissioning of the new Higher Education Examination Council (HEXCO) council.

HEXCO is the body mandated to preside over examinations in polytechnics and vocational training centres.

The board was instructed to ensure the fund, which Government is setting up, will be utilised by industrious students equipped adequately through an examination system that answers the country’s needs.

“Previous HEXCO councils were chaired by the Permanent Secretary in the Ministry and college principals, but we decided to change that approach,” said Prof Murwira. “This is the first council outside that structure, please make decisions that will ensure this country has graduates that will help us go forward.”

The new HEXCO council members are Dr Lazarus Nembaware (chair), Engineer Sebastian Marume, Simplisio Shamba, Michael Munodawafa, Lynette Masiwa, Francis Zindere, Farai Mchiya-Mabhiza, Johnson Kamhara, Wikirefu Sonono, Dr Perkins Muredzi, Dr Rangarirai Dadirai and Albert Chiketa.