Mthuli pushes banks to back youth, women

SAMANTHA MADE

Finance Minister Mthuli Ncube is pushing Zimbabwe’s financial institutions to step up support for youth and women in business, warning that the country’s growth ambitions will stall unless banks channel meaningful capital to groups long excluded from mainstream finance.

In his speech read by Chief Director of Economic Affairs Joseph Mverecha at the National Financial Inclusion Conference, Ncube said inclusive growth must become a non-negotiable pillar of Zimbabwe’s development agenda.

“On behalf of the government, I would like to reaffirm our firm commitment to building an inclusive economy where every Zimbabwean, regardless of location, gender, or age, has access to affordable and quality financial services on a sustainable basis. Our vision as the government of Zimbabwe is to build an economy that confers equal opportunities for all Zimbabweans across the length and breadth of our beautiful country,” Professor Ncube said.

He underscored the demographic reality driving government policy:
“We must invest in our youth, because our population is predominantly young,” he said.

“If you empower a woman, you empower a nation.”

He said the government is working to expand access to digital financial services and develop innovative financing models that remove barriers for young entrepreneurs.
“Financial services must be accessible and affordable for everyone, so we can build a wealth economy where everyone is involved.”

Professor Ncube highlighted targeted efforts to support women in business, including the capitalisation of women’s banks and gender-focused credit policies.
“That’s why we celebrate the central bank’s efforts to allow women and youth to access credit in the economy. And we fight the problems and needs of the collective economy, so required by our many financial institutions.”

He urged financial institutions to widen opportunities not just for youth and women, but also for people living with disabilities.