ZIMBABWE, like most African nations, has a considerably large youthful population. With the National Youth Day having been commemorated on February 21, it is imperative to reflect on the challenges facing young people, particularly unemployment.
The country’s economic constraints mean that formal employment opportunities remain scarce, leaving many university graduates struggling to secure jobs.
While some universities, such as Midlands State University, have introduced core modules in entrepreneurship, these efforts have not been sufficient in fostering a deeply ingrained entrepreneurial mindset. As a result, many graduates resort to informal trading, such as street vending, merely to survive.
Beyond universities, student-driven entrepreneurship clubs provide training, but a significant disconnect exists post-graduation. Without structured follow-up mechanisms, the skills acquired in these clubs often go unused.
Some corporate entities, such as Old Mutual, have taken positive steps by creating innovation hubs, yet these initiatives remain limited in scope and impact.
This article builds on last week’s discussion on fostering an entrepreneurial culture and explores how Zimbabwe can more effectively address youth unemployment and its associated socio-economic challenges through entrepreneurship.
Entrepreneurial education
Entrepreneurial education in Zimbabwean universities is often theoretical and lacks the experiential components necessary for real-world business success.
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While introducing entrepreneurship as a core module is a step in the right direction, universities must go further by implementing compulsory entrepreneurial incubation programmes. Every university should establish well-resourced business incubation centres, where students receive hands-on entrepreneurial training. These centres should provide seed funding, mentorship, and access to market linkages.
Successful models, such as Stellenbosch University’s LaunchLab in South Africa can serve as a blueprint. Zimbabwe’s universities must move beyond theoretical instruction and actively guide students in launching viable startups before graduation.
Universities should also integrate enterprise-based learning into their curricula, ensuring that students gain practical experience by working in startups or small enterprises during their studies.
Partnerships with private sector firms and industry bodies should be leveraged to provide paid internships and apprenticeships that expose students to real business challenges.
Furthermore, student entrepreneurship clubs should establish alumni networks that track and support graduates in their entrepreneurial journeys. Universities can create business mentorship platforms where successful alumni entrepreneurs provide ongoing guidance to recent graduates.
Expanding access to finance
One of the most significant barriers to youth entrepreneurship is limited access to capital. Traditional banks remain reluctant to lend to young, inexperienced entrepreneurs, who lack collateral.
Addressing this requires government-backed youth venture funds that provide low-interest loans and equity financing to promising startups. The government should establish such a fund, drawing lessons from Kenya’s Youth Enterprise Development Fund, which has successfully financed youth-led businesses.
The Ministry of Youth, Sport, Arts, and Recreation could collaborate with the banking sector to develop financial products tailor-made for young entrepreneurs.
The private sector must also play a greater role in startup financing. Companies such as Old Mutual, which already run innovation hubs, should scale up their efforts to include seed funding for startups with high growth potential.
Pension funds and insurance companies can be encouraged to allocate a portion of their portfolios towards youth-led enterprises. Digital crowdfunding platforms should be developed to allow Zimbabweans, including the diaspora community, to invest in promising local startups. Mobile money lending, already popular in Zimbabwe, can be tailored to support micro and small enterprises.
Creating enabling environment
Regulatory bottlenecks remain a major hindrance to entrepreneurship. Zimbabwe must overhaul its policy framework to ensure that young entrepreneurs can establish and grow businesses with minimal red tape.
The process of registering a business should be streamlined, reducing costs and eliminating unnecessary bureaucracy. Countries such as Rwanda, which allow business registration within 24 hours, offer a model that Zimbabwe can emulate.
The government should introduce tax breaks for startups during their initial years to ease financial pressures and encourage reinvestment. A startup-friendly tax regime, similar to South Africa’s Small Business Tax Amnesty, can incentivise entrepreneurship.
Public procurement policies should also be revised to support youth-led businesses. A portion of government procurement contracts should be reserved for youth-owned enterprises, which would help stimulate growth and sustainability.
In addition, stronger intellectual property protections must be enacted to safeguard young innovators from having their ideas exploited by larger firms.
Ecosystems, networks
Entrepreneurship does not occur in isolation; it thrives in well-connected ecosystems where key players — government, academia, private sector, and civil society — collaborate to create opportunities.
Zimbabwe must strengthen these networks by establishing nationwide innovation hubs in every major city. These hubs should be fully-equipped with co-working spaces, mentorship programmes, and funding opportunities.
Public-private partnerships can drive the expansion of such hubs, ensuring that young entrepreneurs receive the necessary support to launch and scale their businesses.
The country must also enhance digital and market access by developing platforms that connect young entrepreneurs with markets beyond Zimbabwe’s borders.
Leveraging the African Continental Free Trade Area (AfCFTA) will allow Zimbabwean startups to expand regionally. E-commerce and digital payment solutions should be mainstreamed to facilitate easy transactions for startups.
Additionally, a culture of entrepreneurship must be actively promoted through media campaigns that showcase success stories of young Zimbabwean entrepreneurs. National entrepreneurship awards and competitions should be expanded to reward innovation and resilience among young business owners.
Socio-economic challenges
Beyond unemployment, Zimbabwe’s youth face challenges such as drug abuse, crime, and mental health struggles. Entrepreneurship can serve as a viable solution by providing meaningful livelihoods that generate sustainable income, reducing the economic desperation that often drives criminal activities.
Youth-led businesses can contribute to community development by addressing local issues such as waste management, urban farming, and renewable energy. Social enterprises should be promoted as viable business opportunities that not only create employment but also address pressing societal challenges.
Entrepreneurship can also enhance social mobility, offering young people a pathway to financial independence and breaking cycles of poverty and dependency.
As more young Zimbabweans succeed in business, they will inspire others to pursue similar paths, creating a multiplier effect that benefits the broader economy.
Conclusion
Zimbabwe’s youth hold the key to the country’s economic future, yet many remain trapped in unemployment or informal trading. While universities and private sector actors have taken steps to foster entrepreneurship, more must be done to create a robust support system that transitions students from theoretical learning to real business success.
By enhancing entrepreneurial education, improving access to finance, reforming regulatory frameworks, and fostering strong business networks, Zimbabwe can unlock the full potential of its young population.
In doing so, the country will not only address unemployment, but also empower a new generation of innovators and industry leaders. The time for action is now.
Zimbabwe must build an ecosystem where youth entrepreneurship is not merely encouraged, but actively enabled, paving the way for a more prosperous and self-sustaining future.
- Jongwe is an experienced business consultant with extensive expertise across various industries in Southern Africa, including higher education. — +27 82 408 3661/ +263 788 016 938 or by e-mail at consultgws@gmail.com.
