The Miniistry of Youth Development, Indigenisation and Empowerment (MYDIE) has the mandate of economically empowering the youth and facilitating their participation in the mainstream economy. It is against this background that the Ministry has partnered with Old Mutual Zimbabwe Limited and CABS to create opportunities for youth empowerment thereby ensuring their active participation in the mainstream economy thereby combating the youth unemployment scourge. The Kurera /Ukondla Youth Fund is meant to achieve the following:
- Fund youth businesses and income-generating projects.
- Enable youths to participate in the mainstream economy and contribute to economic growth and development.
- Create employment for the young people of Zimbabwe.
- Assist social and economic development in communities through reducing idleness, promoting productivity and a sense of worth among youth.
The fund is meant for young people aged between 18 and 35.
WHAT ARE THE MAXIMUM THRESHOLDS
The maximum threshold for the loans is $5 000.00
INTEREST RATE AND ADMINISTRATIVE FEES
Concessionary interest shall be charged at the rate of 10% per annum using the reducing balance method. Project promoters shall pay a once off administration fee of 2% of the loan granted. The administration cost shall be uploaded on the loan.
NATURE OF FUNDED PROJECTS
For more info visit: http://zimyouth.org