National Venture Capital Fund launch set for next month ……ZANU PF Youth league upbeat on fund prospects
FINANCE Minister Professor Mthuli Ncube says the National Venture Capital Fund will be operational next month.In his 2020 budget statement Professor Ncube announced a ZWL$500m fund to support businesses and a significant portion of the fund will be channelled towards supporting youths and women.Speaking soon after making a presentation to the ZANU PF full time heads of departments, Professor Ncube said in conjunction with the Ministry of Youth, they are about to conclude modalities on how to access the fund.“In the 2020 budget we set up ZWL$500m and there is a large portion set aside to support large start-ups in particular technological innovations. There is also a large portion to support Youth and Women, so we are working with the ministry of Youth to ensure it is operational by next month”.ZANU PF acting deputy Secretary for Youth Affairs, Cde Tendai Chirau said the Fund provided an opportunity for youths in various sectors of the economy to access affordable capital.“It has always been the wish of the Youth League for us to have an empowerment fund. One of the challenges for start-ups in particular those operated by youths is the issue of capital."We are happy the Ministry of Youth launched the National Venture Capital Fund, so today when we met the minister he indicated that the Fund will be ready to disburse funds next month ."We now await to hear the modalities and hope they won’t be prohibitive but youth friendly”.