CBZ has nurtured 414 entrepreneurs
Natasha Chamba, Business Reporter
CBZ Holdings says it has supported 414 entrepreneurs to start their own businesses under its Youth Entrepreneurs Programme (YEP) since its inception in 2016.
The initiative is run in partnership with Empowered Life Trust. Through the programme, 1 875 young people aged between 18 to 35 have been trained with 52 percent of them being women. YEP is a practical initiative involving youths from the country’s 10 provinces meant to nurture budding entrepreneurs to participate in the mainstream economy.
The programme seeks to empower youths including those in rural areas by exposing them to business opportunities with potential to create more employment.
According to CBZ, the finance institution has availed sponsorship to businesses run by the youth from proposal stage up to three years of incubation. The supported businesses should have a good impact in the community and promote growth and innovation.
An online YEP call centre has been established to assist participants and handle queries regarding the programme.
The initiative dovetails with the Reserve Bank of Zimbabwe’s 2016-2020 National Financial Inclusion Strategy, which seeks to foster economic and social development by increasing fiscal space for previously marginalised key players such as smallholder farmers, women, youth and micro-small to medium scale enterprises in the formal banking system.
This year over 100 participants will be selected to attend a two-day outreach training in each of the 10 provinces.
Applications can be done through the CBZ Holdings’ extensive branch network as well as an online portal.
Previous beneficiaries have received between $5 000 and $10 000 as seed capital for their projects.