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Zvimba – Young business owners in various parts of Zvimba South Constituency are basking in glory as their businesses including grocery selling, poultry, and agro-based processing got a financial boost through the Constituency Youth Business Revolving Fund.
The Fund which is a free interest revolving fund was set up by Zvimba North Constituency Member of the House of Assembly, Marian Chombo.
At least more than three young businesses benefited from the Fund.
“My poultry project got a boost after I managed to get access to the loan meant for youths. In the past, I faced financial challenges when I wanted to increase my poultry project from the occasional 100 chicks I used to keep. With the funding, I’m now able to have three rotations at any given time since I now have the money to buy enough feeds,” Tendai Chizivano of Dalkeith Farm said.
Audrey Dera said she managed to set up a peanut butter-making business that employs five other youths.
“I’m delighted that I got a timely boost for my peanut butter-making business. In the past, I faced challenges towards purchasing the packaging and enough groundnuts to meet the demand but now that issue has been sorted. I would like to appreciate the youth fund which is dedicated to young people,” she said
The Zvimba North Member of Parliament and Ministry of Local Government Deputy Minister said she set up the Fund to empower young people in her constituency which does not offer many industrial employment opportunities.
“The constituency is very much agriculture-based with no industries except few mines, leaving the youths without much job opportunities and the Fund is also meant to instill a culture of self-financial empowerment for the youths,” she said.
Chombo said the Fund is open to all youths in the constituency who are offered US$600 each for successful business proposals and the applicant repays the free interest loan after six months.
ZANU PF Zvimba District Coordinating Committee Secretary for Youth Affairs, Decide Mananzva hailed the youth fund as a right step for financial independence for young people.
“I’m glad that we have such initiatives that seek to empower young people financially and that see young people becoming independent so that they cannot be exploited when they don’t have financial independence. This augurs well with President Emerson Mnangagwa’s mantra that the country is built by its own citizens. I hope that other members of parliament follow suit and establish similar initiatives in their constituencies. This will go a long way in helping young people with financial freedom,” he said.