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to take the indigenisation and empowerment policy seriously, saying the Government would continue looking for more funds for empowerment.
This follows growing concerns by youths, especially in Bulawayo, that only a few had successfully applied for the CABS loan scheme compared to Harare.
Minister Kasukuwere on Saturday met the Zanu-PF Bulawayo provincial leadership at Davies Hall where he encouraged them to apply for the loans.
Minister Kasukuwere said he was happy with the uptake of the loans in some parts of the country.
“We were briefing them on the empowerment programme and what must be done to make sure they succeed. We encouraged and explained to them the various funds that are there,” he said.
The different youth funds introduced by the Government include the CABS loan scheme, CBZ, Stanbic and the Investment and Development Bank of Zimbabwe (IDBZ) scheme.
Recently, youths from Bulawayo raised concern over Stanbic Bank, which demanded collateral for one to get a loan.
Minister Kasukuwere said they had engaged the bank and agreed that it should consider the strength of the project without considering collateral security, which youths do not have.
While addressing youths who had also gathered for a business forum in New Lobengula on the same day, Minister
Kasukuwere said each province was entitled to $3 million in different phases and the Government has so far released a third of it, which is shared according to districts in each province.
“We gave $100 000 to youths in Binga, on Friday we gave $500 000 to youths in Matabeleland South and there is still another $500 000 with us. Every province has $2 million, which would add up to $3 million once all funds are released. Bulawayo your share is there.
“I understand there was a problem recently when people from Harare came after exhausting their share but we checked their details and discovered that they were not from Bulawayo. Let us take this opportunity, there is $300 000 more in CBZ which all other provinces except Matabeleland South are taking,” said Minister Kasukuwere.
“Embracing empowerment is like going to church, the moment we realise we are our own liberators, then we can go forward. If Strive Masiyiwa could build Econet and if Nigel Chanakira could build Kingdom Bank, what stops us from doing the same and have control of our destiny?
“Zimbabwe is too rich for us to be poor while our resources are used to develop other countries.”
He said laws like the Mines and Minerals Act were no longer applicable and needed to be reviewed.
The minister castigated Finance Minister Tendai Biti and Reserve Bank Governor Dr Gideon Gono for refusing to indigenise foreign-owned banks, and Bulawayo Mayor Councillor Thaba Moyo for his stance of issuing business licences to foreigners at the expense of locals.
Zanu-PF Bulawayo Province youth chairman Cde Butho Gatsi said they were concerned about the number of youths in the province whose applications had failed to meet requirements.
Cde Gatsi said they would soon hold an induction workshop to assist fellow youths on how to write project proposals.
“As youths we are buoyed by such opportunities when the minister comes to address us. A number of issues came up in the meeting but the main issue was that of CABS loans as many are said to have failed to get the loan. Some failed to write proper proposals and these were encouraged to look for professional people who could assist to write project proposals and re-apply,” he said.
“We will soon have an induction workshop although the dates have not been set where we would invite banks and the ministry to coach youths on how to craft project proposals.”
Zanu-PF Bulawayo Province acting chairman Cde Killian Sibanda said the province was happy that youths were being enlightened.
“We are happy as a province. We invited the minister at short notice but he came and has enlightened our youths on empowerment and indigenisation. These are our future leaders and we want them to be empowered,” said Cde Sibanda.
Online Reporter