Business - Economic Updates - Featured - Local - November 27, 2020

Gvt drives for an inclusive society

THE government is set to empower the marginalised members of the society by setting aside resources equivalent to US$37.5 million to benefit women and youth entrepreneurs.

Presenting the 2021 National Budget, Minister of Finance and Economic Development Professor Mthuli Ncube said that the country stands to realise demographic dividend by harnessing the youthful populace to productive use through inclusive growth.

“Government disbursed a total of over ZWL$77 million by end of September 2020 and these funds were channeled through local empowerment financial institutions such as Women Development Fund, Community Development Fund, Zimbabwe Women’s Microfinance Bank, Empower Bank and Small and Medium Enterprises Development Corporation (SMEDCO), benefitting a total of 6 763 micro, small and medium enterprises (SMEs),” Ncube said.

The objectives of the Fund are to encourage entrepreneurship by youth and women and to help start-ups to grow, generate new employment opportunities and this will stimulate economic growth.

The 2021 Budget has further allocate ZWL$1 billion for the capitalisation of the above respective empowerment entities in order to support SMEs in their operations.

Youths and women will be primary empowerment and job creation targets in as much as they are the majority who make an important contribution as productive workers, entrepreneurs, consumers, and agents of change.

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