Itai Mazire
The Youth Empowerment Bank is still operating and actively funding youth-led projects across the country, Minister Honorable Tino Machakaire has confirmed, pushing back against speculation of its closure amid a worsening jobs crisis.
In a brief but pointed statement today, the Hon. Machakaire said, “Yes, the Youth Empowerment Bank remains functional.” He added that the institution “continues supporting youth empowerment initiatives and projects” – a direct rebuttal to recent social media claims that the facility had collapsed.
Hon. Machakaire did not sugarcoat the scale of the problem facing young Zimbabweans.
“Youth unemployment remains a major challenge,” he acknowledged, calling it the driving force behind a wave of government interventions.
He outlined the government’s multi-pronged response.
“Government is implementing programmes focused on skills development, vocational training, entrepreneurship and youth empowerment across the country.”
While he provided no new funding figures for the Youth Empowerment Bank, political analysts say the reaffirmation of its operational status is intended to reassure young applicants ahead of the next disbursement cycle.
Youth unemployment in Zimbabwe is estimated to exceed 40 percent by some private surveys, though official figures remain contested.
He did not address loan default rates or the bank’s current lending capacity.
However, his four-point declaration-functional bank, active support, unemployment challenge and nationwide programmes, signals that youth empowerment remains a political priority despite fiscal constraints.
