Andrew
Harmony Agere
GOVERNMENT is working on a youth quota system to afford youth-owned companies equal business opportunities and access to funding, Finance and Economic Development Minister Professor Mthuli Ncube has said.
In an address to the virtual Youth Business Forum organised by the Zimbabwe Youth Council yesterday in line with the Independence Day celebrations, Prof Ncube said the Government was in negotiations with capital ventures across the globe to source for funding for Zimbabwean Start-ups.
He said this was in line with the National Development Strategy 1 (NDS1) which seeks to promote the involvement of youths in the economy.
“In the NDS1 there is a pillar on macroeconomic stability, economic growth and inclusive growth. I would say that this pillar of the NDS1 offers three areas in terms of supporting the youths and opportunities for the youths. The first one is on tax incentives. Two years ago, I introduced the Youth Employment Tax incentive programme. It was destabilised by the twin shocks of drought and the Covid-19 pandemic but it is still in place and I think 2021 is the year that we will really be able to assess its impact but I am determined to keep it going.”
Prof Ncube said youths can be given an opportunity in the transport sector through contributing buses to Zupco.
For opportunities in infrastructure development, he said:
“This is an enabler and I think we have an opportunity now with the Emergency Road Rehabilitation Programme where we can make sure that there is a youth quota in the employment of youths in the programme. But one other issue we have discussed briefly is the issue of just filling up potholes especially in the urban areas where we could look at the youths, give them tools and support to just go around filling up those potholes.”
The Treasury chief said Government had dedicated itself to support the creation of Zimbabwe’s Silicon Valley.
“This is where the youths who are very good at coding go to and get housed, they develop various programmes as well as develop their own Apps,” he said.
“There is one venture capitalist who I have been talking to who is in California right now who is very keen to work with us as a Government in supporting this issue on the ground and we will make sure that this happens.”
Prof Ncube said Government had made progress in exploring the possibilities of integrating crypto currency into the country’s financial sector.
Online Reporter