Youths to access collateral-free loans Addressing thousands of youths who gathered at the Stanley Hall in Mpopoma, Bulawayo, on Sunday for the ZANU PF Youth League interface, Youth Affairs Secretary Cde Tino Machakaire said loans will soon be more easily available.

Tadious Manyepo-Herald Reporter

THE  Government is now addressing lack of collateral by discussing with Empower Bank and other lenders on how conditions can be relaxed for youth with brilliant business ideas but zero capital .

Addressing thousands of youths who gathered at the Stanley Hall in Mpopoma, Bulawayo, on Sunday for the ZANU PF Youth League interface, Youth Affairs Secretary Cde Tino Machakaire said loans will soon be more easily available.

“We have noted with concern that youths are lagging behind in terms of their participation in the economy. One of the major reasons for that, I am sure, is the stringent loan application conditions from banks. We know you have projects that you want to undertake as individuals or groups and the Government is fully behind you.

“We have since engaged Empower Bank to let you access loans without collateral,” Cde Machakaire said. “We understand that you are young and in most cases you don’t have assets as yet that you can then present to banks as collateral. 

“I am sure you know that the Government through our sole Zanu PF Presidential candidate in the upcoming harmonised elections, President Mnangagwa, is driving for inclusivity in its various faces.

“No place and no one should be left behind and collateral shouldn’t be a barrier to your participation in the growth of our economy. Let’s work together as the youths. I can assure you that the issue of collateral will be a thing of the past.”

Cde Machakaire, who is also the Deputy Minister of Youth, Sport, Arts and Recreation said local entrepreneurs should be prioritised whenever tenders for products or services are flighted. 

The Wedza South legislator said it waspart of the Government’s youth empowerment drive to award local suppliers tenders for products or services meant for a particular locality.

“We are busy looking into that as well. We cannot have a supplier of bricks for example coming all the way from Mutare to Bulawayo as if there are suppliers in Bulawayo.We have to look at that for the benefit of the youth”.

Structured vending stalls where legal vending takes place will also be established countrywide for the youth.

Zanu PF Bulawayo Provincial Youth League chairman Cde Freedom Murechu said ongoing youth interfaces are key as they address issues affecting the youths.

“We are always talking about youth empowerment and the ongoing interfaces help us address their concerns,” said Cde Murechu.

“Thousands of youths in the country are self-employed and we are happy that they will soon be able to access loans without collateral so that they can enhance their business growth.”

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