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Kiyapili Sibanda, Business Reporter
YOUTH entrepreneurs should form groups and engage financial institutions to sell their business ideas so as to unlock capital for their projects, RioZim’s chief executive officer, Mr Allan Mashingaidze, said.

Speaking during a young professionals’ forum in Bulawayo last week, Mr Mashingaidze said there was power in collective engagement. He said the youths could make a convincing bid to finance houses for their projects if they work together.

“I want to believe that gold jewellery is not too sophisticated. I don’t know what has happened to our company that was in Ruwa called Aurex. I don’t want to believe that Aurex has a monopoly. I think it’s an opportunity that the youth should exploit,” he said.

“One of our problems as people is that we are individualistic. In that kind of thinking we lose the aspect of working together. I believe that if the youths go together as sizeable groups and approach financial institutions they can get necessary capital to set up elementary jewellery making factories to produce gold jewellery and then sell it.”

Mr Mashingaidze also urged finance institutions to warm up on funding to support home industries including projects such as jewellery production.

RioZim Limited returned to profitability in the full year ended December 31, 2016 after recording a $2.5 million after tax net profit compared to a loss of $8.8 million reported the previous year.

The forum ran under the theme, “Opportunities for Youth in the Mining Value Chain”.

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