A NEW business organisation was launched Friday to help young entrepreneurs take advantage of emerging opportunities as the country steps-up implementation of its indigenisation and economic empowerment programme.
Promoters of the Zimbabwe Youth Chamber of Commerce and Industry (ZYCCI) said they were looking to facilitate youth participation in the indigenisation of the country’s economy as well as provide a platform for youths to influence policy making.
“Over the past three years, the Zimbabwean economic architecture has changed immensely, with increased recognition of youths as key to both the present and future economic development processes,” ZYCCI inaugural chair, Brian Sedze said in a statement.
“The Zimbabwe Youth Chamber of Industry and Commerce is tailored to provide a networking platform for the economic and social well being of the youth, anchored on best standards of governance.”
Zimbabwe is pushing a controversial indigenisation programme under which foreign companies are now required by law to ensure locals control at least 50 percent of their operations.
Critics say the policy would scare-away foreign investment desperately needed in an economy battling to recover from a decade-long recession.
However, the government insists the programme will help economically empower the country’s historically marginalised black majority.
In his New Year message, Empowerment Minister Savior Kasukuwere said the programme was also aimed at opening up new opportunities for young and emerging entrepreneurs as well as ensure they form “the foundation of our indigenised economy”.
“2012 shall see us prioritize the capacity building of our youths, ensuring that they are endowed with the necessary entrepreneurial and business management skills to guarantee their successful economic empowerment,” Kasukuwere said.
“In this regard a Youth Development Fund has to date made no less than US$40 million available to young entrepreneurs, which funds have been placed under transparent co-management between the Ministry and reputable financial institutions such as Stanbic
Bank, CBZ and CABS.”
Sedze said ZYCCI would provide a platform for youths to take advantage of such government facilities and others made available by private companies as well as influence policy making.
“We have recognized that there is need to champion sustainable economic participation and empowerment of the youth, including increasing advocacy for the inclusion of the youth agenda in the formulation of government policy- specifically related to enabling full participation in industry and commerce,” he said.
ZYCCI would also push the representation of the youth in boards, trusts and policy organs, Sedze added.“ZYCCI will soon forge alliances and partnerships with other chambers confederations to advocate for policies & practices that encourage full employment of both the human capital and other resources within the country for the benefit of the indigenous Zimbabweans,” he said.
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