Staff Reporter
The youth sector is urging the Government to champion public-private partnerships as part of the Vision 2030 initiatives.
This call to action is aimed at revitalising the nation's business ecosystem, particularly focusing on the support and development of startups, emerging enterprises, and distressed businesses.
Tinotenda Mufaro, a member of the Young Women in Business, emphasised the urgency of this initiative.
"We urgently need to implement a Business Turnaround and Recovery Strategy. This strategy should not only aim at formalising small ventures but also empowering them to scale and sustain their operations,” said Mufaro.
This approach is seen as a vital step towards invigorating the economy and fostering a conducive environment for entrepreneurial success.
Echoing Mufaro’s sentiments, Chenai Mugoti from the National Youth Executive highlighted the practical steps needed to initiate this economic transformation.
"We are advocating for innovative incentives and effective funding mechanisms that provide entrepreneurs with access to both local and international industrial equipment markets, like those in China and Dubai," Mugoti said.
She believes that facilitating access to finance is crucial for enhancing productivity and boosting Zimbabwe's competitiveness globally.
Collaboration with governmental bodies is also seen as essential for the success of these initiatives. Through partnerships with relevant ministries, there is a push to create inclusive capacity development programmes that not only educate but also directly employ young Zimbabweans.
Economic analyst Evans Chiyokoto commented on the potential impact of such programmes, saying that they have the potential to uplift the youth.
“These initiatives are designed to uplift budding entrepreneurs and, by extension, contribute significantly to the socio-economic development of Zimbabwe,” said Chiyokoto.
The narrative of success in other countries that have achieved upper-middle-income status is frequently cited as a model for Zimbabwe.
These countries have demonstrated that skills, knowledge, and robust entrepreneurship are pivotal to economic growth and social advancement.
"It's time for Zimbabwe to emulate these success stories and create an environment where our youth can thrive," added Chiyokoto.
Meanwhile, by fostering a dynamic ecosystem of small and medium-sized enterprises (SMEs), Zimbabwe can unlock the full potential of its economy.
These enterprises are pivotal not just for creating employment but also for driving innovation and building economic resilience.
