Africazine:
Young Africa Zimbabwe is launching a loan facility to empower its alumni in entrepreneurship.
This initiative aims to provide financial assistance to graduates, helping them establish and expand their business ventures. The loan facility, structured as a revolving fund, is designed to offer working capital to young entrepreneurs under the age of 35.
Young Africa Zimbabwe Launches Entrepreneurial Loan Facility
The vocational training center, Young Africa Zimbabwe, has introduced a loan facility aimed at supporting its graduates in their entrepreneurial pursuits. This initiative is part of a broader project in collaboration with Save the Children and Empower Bank, focusing on youth empowerment through micro loans and business development support services.
Faith Ncube, the coordinator of Young Africa Zimbabwe, emphasized the importance of skills in creating economic opportunities for young people. The loan facility is specifically targeting graduates aged 35 and below who have completed vocational training and are looking to grow their businesses.
Key Details of the Loan Facility
The loan facility is structured as a revolving fund, which means that as loans are repaid, the funds will be available for future borrowers. This model not only supports current entrepreneurs but also ensures sustainability for future graduates seeking financial assistance.
The initiative is designed to bridge the skills gap by providing practical and relevant technical know-how to young people. By focusing on those who have already established functional businesses, the program aims to enhance their operational capacity and foster economic growth.
Next Steps for Young Entrepreneurs
- Graduates are encouraged to apply for the loan facility.
- Applications are open to those aged 35 and below.
- Support services will be provided alongside financial assistance.
This initiative is a significant step towards empowering young entrepreneurs in Zimbabwe.
