Story by Yolanda Moyo
GOVERNMENT has unveiled a US$1 million Youth Economic Empowerment Fund, an initiative aimed at financing and unlocking the potential of young entrepreneurs across the country.
The fund was launched on the sidelines of the Zimbabwe International Trade Fair (ZITF) this Tuesday.
Among the standout exhibits at Zimbabwe’s premier trade showcase is a youth-led agro-processing enterprise attracting interest from both local and international buyers. Beyond the commercial appeal, however, the enterprise reflects a broader challenge faced by many young entrepreneurs, limited access to capital.
“When we started, my husband and I were both employed, but we did not have enough money to purchase fruits and packaging materials. We applied for a bank loan but were rejected because we did not have a registered company, tax clearance, or a three-month bank statement. Even after registering, we still could not meet the requirements because our sales were too low. We later approached another bank, but they required collateral far exceeding the value of the loan. We need funding for our business to grow,” said a young entrepreneur, Ms Nokukhanya Moyo.
Her experience reflects a wider structural financing gap that continues to constrain the growth of youth-owned enterprises, despite their innovation and strong market potential, as evidenced at platforms such as ZITF.
It is this gap that Government seeks to address through the Youth Economic Empowerment Fund, which will be administered by Empower Bank.
“The launch of the Youth Economic Empowerment Fund, valued at US$1 million, is not merely a financial intervention, but a strategic investment in the future of our nation. As Empower Bank, we are proud to serve as the implementing partner and custodian of this transformative fund. Our mandate as a deposit-taking microfinance institution is clear; to drive financial inclusion, expand access to affordable financing, and empower youths to become active participants in economic development. This fund reflects our vision of an economically empowered youth by 2030,” said Empower Bank Board Chairperson, Mr William Chaitezvi.
Government says the initiative is part of a broader strategy to reposition young people from the margins of the economy to the centre of production and value addition.
“We are creating frameworks that ensure young people are not just participants, but drivers of industrialisation and value addition. The Youth Economic Empowerment Fund is one of several initiatives aimed at equipping young people with resources, skills and opportunities to contribute meaningfully to national development. We will roll out the fund across provinces and are working towards scaling it up to US$5 million in the near future,” said the Minister of Youth Empowerment, Development and Vocational Training, Honourable Tino Machakaire.
From the exhibition halls of Bulawayo to potential export markets beyond Zimbabwe’s borders, young entrepreneurs are increasingly emerging not merely as beneficiaries of development, but as key drivers of economic transformation.
With targeted financing now being introduced, attention is shifting from potential to scale, how far and how quickly Zimbabwe’s youth can transform innovative ideas into competitive global enterprises.
