Matabeleland youth allegedly failing to come up with bankable business plans

MORE than $1 million earmarked for economic empowerment programmes for the youth in Matabeleland region is sitting unclaimed in the Central African Building Society (CABS) and Stanbic Bank as youths in these provinces are allegedly failing to come up with bankable business plans.

To assist the situation, the Zimbabwe Youth Council (ZYC) has introduced a business plan template to help with basic information needed by the financial institutions for youths especially in Matabeleland provinces to easily access the loan facilities.

Addressing captains of industry, tour and adventure operators and youths at the pre-launch meeting of the Zimbabwe Entrepreneurs Youth Action (ZEYA), Victoria Falls branch at a local hotel on Saturday night, ZYC communications officer, Miss Yolanda Washaya said youths in other provinces were busy empowering themselves by applying for the loans offered by the two financial institutions while those in Matabeleland region were lagging behind.

Although Ms Washaya could not give the number of youths that have benefited from the funds in the country, she said there was a high uptake of the loan facilities by youths in Harare while there was a low uptake by youths in Matabeleland North and South and Bulawayo.

"There is money lying idle that is meant for youth empowerment projects but there is a low uptake in the three Matabeleland regions. May be it is because information takes time to reach youths in these areas but the truth remains that the Matabeleland region is lagging behind in accessing the funds. Youths in Harare province are taking the lead in accessing the loan facility," she said.

"So now we have come up with a business plan template where even one who cannot afford to have a business proposal can just visit our offices and we assist. In this way we are certain that the projects we submit to the banks are in order with all the information required so that the youths access the funds."

Miss Washaya said the Cabs loan facility was for youths between the ages of 18 and 35 years.

"The maximum loan that can be accessed here is $5 000 and attracts 10 percent interest per annum," said Miss Washaya.

She said there was a more serious loan facility offered by Stanbic Bank called Stanbic Wealth Creation Fund which offers up to $20 000.

"This is for the serious youths who want total empowerment. However, you must know that the financial institutions are now fed up with the poultry business proposals because it seems almost all the youths want to go into poultry. There are a lot of other proposals, business opportunities which are not touched out there," she said.

ZEYA national president, Mr Munyaradzi Kanyambe said youths should embrace the empowerment programmes set by the government for their own benefit.

"A lot of youths failed to access the land during the successful land redistribution programme and now youths must embrace the economic empowerment programme, which we believe is targeting us. So don't be left behind, submit workable proposals to the banks and access the loans," he said.

Victoria Falls ZEYA president, Mr Forward Mutero said ZEYA was a vehicle through which every aspiring youth can realise his or her potential.