Online Reporter
President Mnangagwa is expected to hand over equipment under the Presidential Youth Fund at State House in Harare this morning.
The US$2 million revolving Presidential Youth Fund was launched a few months ago to empower young people to participate in economic development.
This is the second batch of equipment being availed accross provinces which include front-end loaders and tipper trucks to benefit three provinces.
The first batch, which was availed in April, benefited four provinces.
Stay tuned as our reporter, Wallace Ruzvidzo, and chief photographer, Believe Nyakudjara, give you live updates.
All you need to know about the Presidential Youth Fund
The Presidential Youth Fund is an initiative aimed at empowering young Zimbabweans with the resources and support needed to establish and grow their businesses.
The fund, championed by President Emmerson Mnangagwa, is seeded with US$2 million, which will be used to provide equipment, training, and mentorship to young entrepreneurs.
The Presidential Youth Fund operates on a revolving fund model, where repayments from beneficiaries are reinvested into the fund, ensuring its sustainability and ability to support young entrepreneurs over time.
Beneficiaries of the fund receive equipment, such as front-end loaders and tipper trucks, as well as training and mentorship to help them establish and grow their businesses.
The fund is being implemented in phases, with the first batch of equipment distributed to beneficiaries in April. Subsequent batches are being rolled out to support more young people across the country.
The Presidential Youth Fund is expected to have a positive impact on Zimbabwe’s economic development, driving economic growth, reducing unemployment, and creating a brighter future for young Zimbabweans.
The initiative is a testament to the government’s commitment to empowering the youth and investing in the country’s future.
President hands over the equipment
The President has handed over a consignment of equipment, reaffirming the Second Republic’s commitment to youth empowerment.
In his brief remarks, the President emphasised the importance of empowering young people.
“So we as leaders, are empowering them.
“So it’s now up to them to make use of this equipment,” he said.
