The Honourable Minister of Finance Dr. H. Murerwa MP. officially launched the Zimbabwe Youth Development Fund at Manjengwa Village, Mahusekwa on 06 Friday 2006. The fund endeavours to change the livelihood of the youth in Zimbabwe through the creation of sustainable jobs for the youth themselves.

The Fund was launched against the background that Out of a total population of 15 million people, it is estimated that the youth comprise 67.7%. Unofficial sources put the unemployment rate at 80% of the total labour force and of this the youth unemployment rate is currently estimated to be above 54%. The youth unemployment figure is swelled by the dramatic increase in secondary school leaver population of over 400000 that join the job market annually where less than 10% get placement in the formal sector. This is a clear demonstration that government has done exceptionally well on the education front but not on the employment front. What this means therefore is that labour as a factor of production is grossly underutilised in Zimbabwe.

The Youth Development Fund launched in conjunction with the Infrastructure Development Bank of Zimbabwe (IDBZ) specifically targets the youth not only a soft window but also the greatest opportunity for youth participation in the mainstream economy. This fund is aimed at solving the problem of lack of capital to support youth employment creation initiatives. The eligibility criteria to access the fund is very simple: Go with innovative bankable project proposals to the IDBZ.

Be innovative, Kasukuwere urges youths
16September 2006

YOUTHS should distinguish themselves and come up with programmes that provide solutions to the economic challenges the country is facing through innovation and creation of wealth, the Deputy Minister of Youth Development Cde Saviour Kasukuwere has said.

This, Cde Kasukuwere said, was possible if youth adopted a spirit of working together and took advantage of the various programmes and funding initiatives that have been put in place by the Government.

He said this at a meeting with district youth chairpersons from Mashonaland West Province organised to mobilise and raise awareness among the youths about the programmes which the Government had put in place to empower them.

"Youths of today should distinguish themselves by being in the frontline in the fight against the economic challenges the country is facing.

"Our leaders waged their war against oppression and distinguished themselves by successfully fighting and defeating the repressive system, we now enjoy independence," said Cde Kasukuwere.

Youths, he said should organise themselves into clubs such as young farmers clubs for easy access to funding.

This, he said, would lead to the resuscitation and improved production at farms around the country.

250 BILLION DOLLARS SET ASIDE FOR YOUTH SUPPORT PROGRAMMES

In line with the national objectives as outlined in the Macro- economic Policy Framework 2005- 2006, which promotes and encourages youth development and gender equality, the Government of Zimbabwe through the Infrastructure Development Bank of Zimbabwe, has established a Youth Development Fund. It is anticipated that the Fund will contribute towards the creation of employment for the majority of the youth, alleviating poverty and also empowering this interest group by making it possible for the youth to use their acquired technical and entrepreneurial skills. The intial seed capital for the fund is $250 Billion.