Conrad Mwanawashe : Business Reporter
BARCLAYS Bank Zimbabwe has, since last year, invested over $400 000 into the development of agribusiness entrepreneurs, particularly young people who dropped out of school with the aim of helping them make a fresh start. Under the initiative known as: Fit for Life Programme the bank has partnered the Zimbabwe Farmers Union to help the young farmers overcome some of the challenges they are facing in their businesses and lives.Over 30 000 young people have gone through various financial literacy programmes and included training and coaching in various social and business aspects.
Last Thursday, Barclays handed over a cheque for about $206 000 to the Young farmers Club Empowerment and Entrepreneurship Project Phase 2. This brings the total contribution by the bank to about $412 000 after it disbursed an equal amount last year.
Addressing a launch and handover ceremony of the Young Farmers Club Empowerment and Entrepreneurship Project Phase 2 in Chiweshe, Mashonaland Central, Barclays chairman Anthony Mandiwanza said the aim for the Fit for Life programme is to help young farmers who are facing challenges that inhibited them from accessing basic education.
“There is a generation of young people going through life carrying heavy burdens and with no one to assist them. They are faced with a future that we could never have imagined, forcing them to innovatively think of careers, professions and how they can survive,” said Mr Mandiwanza.
“We knew that without an urgent action to develop our youth into skilled and experienced agribusiness entrepreneurs, their viability as an innovative and competitive market, was at risk. In order to have an impact and unlock the potential of young farmers and communities to have dignified and sustainable livelihoods, we have to invest in improving agricultural and food systems,” he said.
Most young agribusinesses have no access to credit because most financial service providers are reluctant to provide their services- including credit, savings and insurance to rural youth due to lack of collateral and financial literacy, among other reasons.
They have no access to improved technologies that provide them with invaluable knowledge on climate change and developments that can positively impact their levels of production.
Access to markets for the youth is becoming even more difficult due to the growing international influence of supermarkets and the rigorous standards of their supply chains together with lack of reliable logistical channels and understanding of the business eco-system and value chain.
The training programmes also included imparting of skills in the art of negotiating, presentation skills, budgets and emotional intelligence.
The grants the bank disbursed last year enabled young farmers in the class of 2015 to start their businesses and this has empowered them to provide for themselves and their families while contributing to the national economy.
“I strongly believe that the young farmers’ businesses will support the longer-term growth of their local growth of their local communities and ultimately our economy. I believe that agribusiness can be profitable for the youth with the right skills, frame of mind and support system- this is the winning combination,” said Mr Mandiwanza.