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Business Reporter
THE Zimbabwe Manpower Development Fund (Zimdef) disbursed about $22,9 million to tertiary institutions across the country by the end of December last year for procurement of training equipment and grants for industrial attachment and apprenticeship.
The institution’s training levy collections for 2013 grew 13 percent to $43,2 million from $38,3 million in 2012, audited financial results for the year released yesterday indicate.
Zimdef attributed the improved performance to aggressive collection strategy, improved debt management and co-operation of employers despite the harsh economic environment.
The fund financed the equipmentation of universities and polytechnics to the tune of $3,51 million, disbursed $4,37 million for industrial attachment allowances and $7,86 million for apprenticeship wages and other expenses.
Polytechnics also received grants for training equipment and consumables worth $4,46 million during the year and this was 78 percent above the $2,5 million disbursed in 2012.
The fund disbursed $2,7 million towards critical human capital development projects at the Lupane State University, Hotel St Patrick’s School of Hospitality and Tourism in Bulawayo, Kwekwe Polytechnic Engineering Workshop, Marondera, Gwanda, Manicaland and Great Zimbabwe Universities as well as Harare Polytechnic Library.
During the period under review, the National Manpower Advisory Council (Namaco), Industrial Training and Trade Testing Department (ITTTD) and Higher Education Examination Council (Hexco) received a combined grant of $2,72 million.
Zimdef chief executive officer Fredrick Mandizvidza said the fund’s administrative costs for the year were $9,19 million, which converted to 22 percent of the total costs, remaining within the best practice bracket of 30 percent.
“The fund looks forward to a better performing economy which will in turn boost the levels of levy contributions by eligible employers for the improved human capital development,” he said.
Zimdef was established by section 23 of the Manpower Planning and Development Act No.36 of 1984 (now revised Manpower Planning and Development Act, Chapter 28.02 of 1996) to finance the development of critical skilled manpower in Zimbabwe through the collection and disbursement of a one percent manpower training levy.
The levy is collected from eligible employers as outlined in Statutory Instrument 74 and 392 of 1999 whose disbursement is done in terms of the above act.
The Minister of Higher and Tertiary Education is the trustee of the fund.
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