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Chronicle Reporter
YOUTHS have been challenged to take advantage of the $500 million National Venture Capital Fund (NVC) to exploit business opportunities arising from problems caused by the Covid-19 pandemic.

Government announced the fund in the 2020 National Budget to support bankable business ideas which are not being supported by banks.

It is also designed to assist start-up enterprises, create employment opportunities and stimulate economic growth.

Addressing youths from his Bulilima East constituency at Dingumuzi Hall in Plumtree on Thursday, Environment, Climate, Tourism and Hospitality Industry Minister Nqobizitha Mangaliso Ndlovu said, said the challenges facing the country presented youths with a chance to provide solutions.

He said he was happy that some youths were thinking on how best to unlock opportunities despite funding constraints. The minister said Government would look into the funding challenge through the NVC fund.

“We will be judged by what we changed or what we started which will create long-lasting benefits for the generations to come. All of a sudden America realised that 90 percent of their medicine is manufactured in China when there was coronavirus. Today, they’re busy capacitating their factories to start manufacturing and this is the step. We didn’t know we had the capacity to make masks and to make our own sanitisers. Primary schools and secondary schools today are manufacturing sanitizers,” Minister Ndlovu said.

He said some youths have started manufacturing masks while others who do not see the opportunity to make money, still complain that masks are expensive.

“We didn’t know that we have capacity to repair our own ventilators until Nust (National University of Science and Technology) stood up and said let’s see if our engineers can do it. Already at Mpilo (Central Hospital) and UBH (United Bulawayo Hospitals) they have revived those ventilators and we have created solutions. I think if we miss the momentum created by the pandemic, the pandemic has its own problems but let’s identify opportunities,” said the minister.

He said it was sad that the country was importing not less than US$4,5 billion worth of goods including amazambane (groundnuts), to make peanut butter.

“We’re importing potatoes, we’re importing baked beans and onions. I saw a 30-tonne truck with onions at the border. So, I’m saying let us take this opportunity to identify what we can do.

“I dare you look at the entire country even look at the region. I think at this point we’re much closer to be supplying the whole region with hand sanitisers because in Masvingo we’re getting ethanol which we use to manufacture sanitisers,” said Minister Ndlovu.

He said there was need to nurture the entrepreneurial spirit in young people by supporting their innovative ideas to start new businesses.

Deputy Minister of Youth, Sport, Arts and Recreation Cde Tino Machakaire who attended the meeting said the Government would soon disburse the NVC fund and urged young people to register.

Minister Ndlovu toured Climate Adaptation for Rural Livelihoods (CARL) Project which is being funded by the Swedish International Development Agency (Sida) and a joint undertaking of Oxfam Zimbabwe, Zimbabwean organisation SAFIRE, the University of Zimbabwe and Swedish Meteorological Hydrological Institute (SMHI).

The project aims to improve the socio-economic well-being of Zimbabwe’s rural population by reducing poverty and food insecurity in the face of climate change. The project strengthens smallholder farmers’ capacities to adapt to climate change with the aim of building climate resilient villages in the near future.

The project is supporting women and youth with Siyephi Garden made up of 123 youths (82 females and 41 males) involved in nutritional gardening and rehabilitation of a dam for livestock and diversified livelihoods.

Present at the event were Zanu-PF acting Secretary for Youth Affairs Cde Tendai Chirau, Cde Mike Chimombe, a youth executive and Matabeleland South youth chairperson Cde Washington Nkomo.