Empowerment Bank set for student loans

by Tatenda Gono

Government is set to open an Empowerment Bank in efforts to address challenges in accessing loans being faced by students at tertiary institutions, a Cabinet Minister has revealed.  

Addressing students under the Zimbabwe Congress of Students Union (ZICOSU) Manicaland Chapter at Mutare Polytechnic last week, Minister of Sports, Arts and Recreation, Hon Kazembe Kazembe said the Ministry had acquired a license to open an Empowerment Bank. This came after Students raised concerns that they were failing to access student loans.

Prior, Government had indicated that efforts were underway to ensure that the students’ loan scheme would be re-introduced to ease payment of school fees by students at Tertiary Institutions.

Minister Kazembe also castigated former Minister of Higher and Tertiary Education, Professor Jonathan Moyo for reducing allowances for teachers on training as well as those on teaching practice, pledging that President Emmerson Mnangagwa would solve the issue.

Professor Moyo is being accused of misusing ZIMDEF funds for his personal benefit, thereby short-changing students meant to benefit from the scheme.

Minister Kazembe said Government was aware that the youths were faced with unemployment, prompting them to make efforts to create incubation hubs where youths would be trained as entrepreneurs and would be financed to kick-start income generating projects. He also said that President Mnangagwa had indicated that youths should be given top priority in land allocation.

Recently, President Mnangagwa officially opened Midlands State University Incubation hub meant to offer a platform where Midlands Students will explore and develop technology and business related ideas.