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Michael Tome Business Reporter
YOUTHS should take advantage of life-changing business opportunities under the Second Republic to contribute towards economic growth and create employment.
This was revealed by entrepreneur Dr Chamu Chiwanza at a public-private sector engagement convened by the Vision 2030 Movement, a youth empowerment group in Harare on Friday.
The event, which was attended by youths of diverse competencies, sought to deliberate on the possible inclusion of youths in economic development, citing that youths have a role to play in the attainment of an upper-middle-income economy by 2030.
Dr Chiwanza said the Second Republic under the stewardship of President Mnangagwa had in the last five years availed opportunities to youths, particularly in the areas of mining, agriculture, and manufacturing. To support business ventures, the Government established the National Venture Capital Fund.
“Our President has been working on availing opportunities to the young people in this country; the youths have been given a chance to participate in business. “Some of the youths are very capable and have been able to successfully participate in bidding for tendering processes. Some are still looking for opportunities and should be made eligible for diverse economic activity,” said Dr Chiwanza.
Young entrepreneurs often face financial constraints owing to limited personal savings and challenges in accessing loans due to their age and lack of credit history.
Limited resources can hinder their ability to develop products, hire employees, or market their business. Young entrepreneurs sometimes face skepticism and doubt from potential customers, investors, and business partners due to their age.
This lack of credibility makes it difficult to gain trust and secure the necessary support to establish and grow a business. Zimbabwe Youth Council (ZYC) director Mr Brian Nyagwande said the drive was in line with the national youth policy, which seeks to empower young people to actively participate in mainstream economy.
“For us to achieve a prosperous and empowered upper middle income by 2030, we need to give resources and space to the youth, they have the ideas and ooze with all the energy that is required.
“As youths, it is high time we take the leading role in ensuring economic development and growth within the confines of Zimbabwe,” said Mr Nyangwande.
Businesses owned by youth play an important role in driving economic growth in a country, given their potential to bring fresh ideas and new perspectives, critical for innovation.
However, the success of their businesses depends on a supportive business environment that provides access to finance, markets, infrastructure, and other critical resources.
Through the National Development Strategy (NDS 1), the Government intends to provide capital that helps in addressing financial constraints often faced by women and youth when starting or expanding their businesses.
The Vision 2030 Movement is a non-profit association, targeting to develop youth.
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