Online Reporter
Veronica Gwaze in BULAWAYO
THE Government has launched a US$1 million Youth Economic Empowerment Fund aimed at supporting young entrepreneurs and driving job creation, with plans to scale the facility to US$5 million in the near future.
Youth Empowerment, Development and Vocational Training Minister Tino Machakaire unveiled the fund yesterday at the Youth in Business Forum 2026 held on the sidelines of the Zimbabwe International Trade Fair here.
“It is my profound honour to stand before you this morning as we launch this milestone initiative — the Youth Economic Empowerment Fund,” said Minister Machakaire.
“This launch marks only the beginning. It is our collective ambition to grow this fund to as much as US$5 million in the near future, expanding its reach and impact.”
He said the initiative reflects Government’s commitment to youth empowerment under President Mnangagwa.
“This initiative stands as a clear testament to that unwavering commitment to creating opportunities for young people across our country,” he said.
The fund, which will be administered through EmpowerBank, is structured as a revolving facility, meaning beneficiaries are required to repay the funds after a set period, allowing the same pool of money to be re-lent to other young entrepreneurs over time.
Minister Machakaire said the model is designed to maximise impact while instilling financial discipline among beneficiaries.
“We seek to cultivate a culture of responsibility among our youth — one that recognises that when support is extended, it must be honoured through repayment, thereby enabling others to benefit in turn,” he said.
“In this way, we ensure continuity and shared opportunity.”
In a bid to ensure sustainability and accountability, the Minister said Government would adopt a collaborative approach involving multiple stakeholders.
“We call upon all stakeholders – traditional and political leaders, church leaders and the broader community – to play an active role in supervising and supporting beneficiaries.”
He said that Government institutions, including the Zimbabwe Youth Council, would work closely with EmpowerBank to ensure transparent and efficient disbursement of funds.
“We further enjoin EmpowerBank to diligently disburse and administer this Fund, ensuring that resources are allocated in a transparent, efficient and accountable manner, reaching deserving young people across all provinces, and supporting viable, productive and sustainable enterprises that will drive economic growth and job creation,” said Minister Machakaire.
The programme will be rolled out nationwide, covering all 10 provinces, with provincial launches planned to bring the initiative closer to communities.
