This partnership builds on the initial success of the first phase of the project, implemented from 2012 to 2014. The second phase of Zimbabwe:Works has provided 8,500 young people with entrepreneurship and business skills and trained 3,700 youth in financial literacy. About half of those trained in financial literacy subsequently accessed loans from microfinance institutions to start or expand their businesses, resulting in net profits of over $12 million.
USAID/Zimbabwe Mission Director Stephanie Funk stated, “Zimbabwe:Works has achieved impressive results in a shrinking economy that is increasingly informal. The activity has made a notable difference in the lives of thousands of Zimbabwean youth – the majority of them women.”
Annabel Gerry, Head of DFID Zimbabwe, said “I am proud of the UK’s support to the young people of Zimbabwe, making sure that they have jobs and increased incomes in the future.”
Maria Selin, Head of Development Cooperation at the Embassy of Sweden, noted, “Zimbabwe:Works has prepared thousands of Zimbabwean youth for productive careers. We believe that partnerships and investments that can bring young people – and in particular young women – into the productive sectors are incredibly important for the economic and social development of any society.”
The International Youth Foundation, in partnership with local Zimbabwean organizations, implements the Zimbabwe:Works program in eleven areas: Bulawayo, Gweru, Kwekwe, Harare (including Chitungwiza), Kadoma, Masvingo, Mutare, Goromonzi, Bubi, Umzingwane, and Lupane.
Post published in: Business