Youths urged to contribute to Vision 2030

Ivan Zhakata Herald Correspondent
MINISTER of Youth, Sport, Arts and Recreation Dr Kirsty Coventry has urged the youth to contribute to Zimbabwe’s Vision 2030 of building a middle-income economy by the year 2030.

Speaking during the launch of the Youth Business Starter Pack (YBSP) program by EmpowerBank this morning, Dr Coventry called on youth to responsibly seize the opportunities brought by the bank’s YBSP to ensure their own economic empowerment and that the country realizes the economic dividend rooted in the youths.

She said the rollout of the YBSP will give the bank a new impetus to positively impact the lives of all young entrepreneurs across Zimbabwe.

YBSP is a loan product designed by EmpowerBank as a business financing model for turnkey business prototypes to assist young entrepreneurs quickly get started in business or expand their business operations.

Dr Coventry said she was happy that the loans were designed to address the topical challenges faced by youth such as high interest rates and short loan periods.

“Youths, this is your bank and I urge you to make use of it to the full. I will ensure that the bank through its board will continuously improve its working model to meet your everchanging complex requirements given the changes in technology and the economic environment that we operate in, to bring modern banking facilities to your doorstep for your economic empowerment.

“We want you to contribute meaningfully to Zimbabwe’s vision 2030 of building a middle-income economy by the year 2030, and to improve livelihoods. I urge all youth to responsibly seize the opportunities brought about by EmpowerBank’s Youth Business Starter Packs, to ensure their own economic empowerment and that the country realizes the economic dividend rooted in the youths,” she said.

YBSP loans will be extended at competitive interest rates which are 5 percent below those charged by mainstream commercial banks and are extended for periods of up to 18 months at flexible collateral terms and collateral free for smaller loan sizes.

The YBSP program is focused on the key economic sectors of Zimbabwe such as Agriculture, Mining, Tourism, Arts and Culture and Small to Medium Enterprises (SMEs) in order to cater for all the youth needs.

The product shall be rolled out across all the provinces and districts of the country.