(ZTESEG) and youth entrepreneurs.The youths in the city were encouraged to seriously consider setting up their own businesses instead of crossing the borders in search of greener pastures.

"Leaving the country is not always the best option, we can make it here in Zimbabwe if we work hard," said 27 year-old Managing Director of Moxis Beauty Parlour and fitness centre Nothando Dube.

Dube is one of the many young people from Bulawayo who have set their sights on running successful businesses in the city. Through the little money she had, Dube, then at the age of 23, managed to start up what has now become one of Bulawayo's flaging beauty parlours.

Addressing the over 250 people packed Royal Hotel hall, speaker after speaker echoed the need for youths to embark into business, with government stakeholders highlighting their keenness to support viable projects.

Mrs Ndlovu, the permanent secretary in the Ministry of SMEs pointed out that her ministry was devoted to providing financial and technical assistance to those who are interested in getting funding for their businesses. Last year, she pointed out, her ministry ensured the creation of over 4000 new jobs, contributing to the sustainance of a further 3500.

Already, she continued, her ministry had received $16 billion for funding of SMEs and she encouraged youths to use these facilities to their benefit.

During the seminar, some youths pointed out the need for attitude change in banks, and ministry officials and employees in aiding them to access loans and assistance as this was inhibiting them from succeeding.

In response Ndlovu said they were working at ensuring that such attitudes changed and that youths were assisted as far as is possible.

She encouraged, as part of government policy, that youth engage in the production and value addition of basic commodities as these were going to go a long way in helping ordinary Zimbabweans and also generating foreign currency for the economy through exports.

Dr Mbizvo, the permanent secretary from the Ministry of Higher and Tertiary Education also highlighted the programmes that his ministry through the Integrated Skills Outreach Programme (ISOP) was engaged in in developing youth across the country.

"Our emphasis is on education with production," he stressed, a strategy that was geared at job creation even for those who have not managed to get enough qualifications to get them to colleges or university.

He said his ministry was engaged in empowering youths in the rural areas in engaging themselves in income generating projects using locally available resources.

He also encouraged youths to be patriotic. "we need to produce in Zimbabwe, Zimbabwean doctors and engineers who want to work for the development of our country," he stressed.

Despite the decline of the Zimbabwean economy in recent years, Zimbabwe still boasts the highest literacy rate in Africa. Zimbabwean graduates are currently the most sought after across the globe because of the high standard of education in the country.

However with massive unemployment the country has been facing a serious brain drain which is crippling the country's industry. over 33 000 youths graduate from high school each year and over 15 000 from tertiary institutions but the economy is failing to accommodate all of them, hence the call for entrepreneurship as a solution.

FACT SHEET

Youth Development Fund

Eligibility
All sectors
Aged 16-30yrs,
Experience and skills
Legally constituted - private business corp, private limited companies etc.
You must be owner and manager
Commercially viable
Value addition projects
No criminal and commercial crime record

Terms
Maximum Z$50m
Interest 50%
Loan – working capital for 12 months
Grace period of up to 6 months

Required
Loan application form
Formal application letter

Funded on availabilities, do not insist on collateral
Plans under way to set a youth guarantee fund

Statistics
Bulawayo 6 projects $82m
Harare 7 projects $121m
Manicaland 3 projects $42m
Mashonaland Central 33 projects $21m
Mashonaland East 13 projects $207m
Mashonaland West 9 projects $171m
Midlands 2 projects $30m
Matabeleland South 1 project $6m
Matabeleland North 2 projects $6m

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