Online Reporter
Ranson Madzamba
Correspondent
Last year, President Mnangagwa officially launched the National Youth Empowerment Strategy (2026–2030).
The Strategy came into being to address the issue of unemployment among the youths, with a close focus on those who are Not in Education, Employment, or Training (Neet).
The Strategy thus provides a comprehensive framework aimed at integrating these youths into productive economic activities through targeted interventions.
The year 2026 marks the commencement of the operationalisation of this Strategy. Pillar 1 of the Strategy focuses on Economic Empowerment, with a strong emphasis on job creation and entrepreneurship development through improved access to finance and markets.
Access to finance remains one of the major barriers hindering youth participation in economic activities. Many young people face challenges in securing capital to start, grow, and sustain their businesses due to limited collateral, lack of financial literacy, and weak linkages with financial institutions.
In line with the operationalisation of the National Youth Empowerment Strategy, particularly Pillar 1 on Economic Empowerment, the Ministry of Youth Empowerment, Development and Vocational Training seeks to bridge this gap by creating platforms that connect youth with financial service providers.
2026 ZITF Youth Business Forum
The Ministry of Youth Empowerment, Development and Vocational Training in partnership with the Reserve Bank of Zimbabwe, The ZITF and various development and financial institutions convened a Youth Business Forum at this year’s ZITF edition. The platform managed to bring together the young entrepreneurs, key financial stakeholders and development partners under one roof and deliberated on how best the youths can be empowered financially.
In a country where the youths constitute the majority of the population, their inclusion in financial systems is not only a social necessity but also a critical driver of national development.
The forum thus served as a practical platform for aligning financial inclusion initiatives with the broader objectives of Zimbabwe’s National Youth Empowerment Strategy (2026–2030).
Financial exclusion remains one of the major barriers limiting youth participation in the economy.
Many young people, particularly those in rural areas or the informal sector, lack access to basic financial services such as bank accounts, credit facilities, and insurance.
This exclusion is often caused by structural constraints including lack of collateral, limited financial literacy, and high unemployment levels.
As a result, the youth are unable to start or expand businesses. The Youth Business Forum thus brought together policymakers, financial institutions, development partners and young entrepreneurs to identify solutions that are both inclusive and sustainable.
So, the key objectives of the Youth Business Forum were to promote financial inclusion among youth, identify barriers to accessing finance, encourage youth entrepreneurship and innovation, strengthen collaboration between government, banks, and young people as well as to enhance financial literacy and awareness.
Key discussions and findings
Participants highlighted that many youths face difficulties in accessing loans due to lack of collateral, limited credit history, and perceived risk by financial institutions. Financial institutions acknowledged that conventional banking products do not adequately meet the needs of young entrepreneurs. There is a need for youth-specific financial products such as low-collateral loans, start-up funding, and flexible repayment plans.
It was noted that many young people lack adequate financial management skills, including budgeting, saving, and investment planning. Financial literacy is thus essential and needed for effective utilisation of financial services and long-term business sustainability.
On another note, the forum emphasised the growing importance of digital platforms such as mobile money and online banking in improving access to financial services. Digital finance provides an opportunity to reach underserved and rural youth populations.
Young entrepreneurs were encouraged to formalise their businesses to improve access to funding and markets since informal businesses face limitations in accessing structured financial support. The forum stressed the importance of continued collaboration between the Government, regulators, and financial institutions.
As a way to enhance financial inclusion among the youths, the forum explored various initiatives that include the need by financial institutions to introduce youth-specific financial products, reduce collateral requirements for youth loans and to expand digital banking solutions.
The young entrepreneurs were highly encouraged to formalise their businesses and maintain proper financial records, improve financial literacy and management skills, as well as to leverage on digital platforms for business growth.
The Youth Business Forum all in all highlighted that financial inclusion is indeed critical in unlocking the potential of young entrepreneurs. Continued, collaborative efforts between the Ministry of Youth Empowerment, Development and Vocational Training, the Reserve Bank of Zimbabwe, development partners and financial institutions are essential to ensure that the youths are fully integrated into the financial system and contribute meaningfully to national economic development.
ν Ranson Madzamba is a Communication Science DPhil student with the Bindura University of Science Education
