EMPOWERING THE FUTURE: Government Launches US$1 Million Youth Economic Fund

BULAWAYO — In a major move to bolster youth entrepreneurship, the Government has officially launched a US$1 million Youth Economic Fund. Designed to expand financial access for young entrepreneurs across all 10 provinces, the initiative aims to stimulate innovation and combat the significant challenge of youth unemployment.

The fund was unveiled during National Youth Day celebrations on the sidelines of the Zimbabwe International Trade Fair (ZITF), which is running from April 20 to 25. The initiative is a cornerstone of the 2025 National Youth Empowerment Strategy, championed by President Emmerson Mnangagwa, which seeks to integrate young people who make up more than 60% of Zimbabwe’s estimated 16 million population into the mainstream economy.

"The initiative is designed to support youth-led businesses, stimulate innovation and create jobs in an economy where unemployment among young people remains a major challenge," officials stated.

EmpowerBank has been tasked with the administration, disbursement, and nationwide management of the fund. While the official application process and eligibility criteria have yet to be released, the launch has garnered significant high-level support:

• Financial Oversight: Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu attended the launch, signaling the central bank's commitment to the initiative.

• International Backing: Representatives from the United Nations Population Fund (UNFPA) and the United Nations Development Programme (UNDP) were present, highlighting the international community's support for the project.

• Focus Areas: Discussions centered on three critical pillars: improving financial literacy, expanding access to capital, and strengthening skills development to ensure the sustainability of youth enterprises.

Minister of Youth, Sport, Arts and Recreation, Tino Machakaire, emphasized that the fund is a direct response to the need for economic inclusivity for the country's youth. The sentiment was echoed by Ruth Mugwagwa, chairperson of the Zimbabwe Youth Council, who urged young citizens to seize the opportunity.

"Dream big and focus on creating jobs," Mugwagwa said.

As Zimbabwe intensifies its efforts to position entrepreneurship as a primary driver of economic recovery, this fund represents a critical step in providing the necessary capital for the next generation of business leaders to succeed.

 Zimbabwe Youth Economic Fund 2026