CBZ Holdings has invested “substantial resources” into the Youth Entrepreneurs Programme (YEP), in its search for a new generation of growth-oriented entrepreneurs.
By Staff Reporter
The financial institution last Thursday hosted the YEP prize giving ceremony having launched it last year in October. The programme saw the financial institution holding a series of workshops across the country.
CBZ Holdings said it was investing more resources in the YEP programme to ensure a critical mass of growth-oriented young entrepreneurs.
“To ensure that a critical mass of growth-oriented young entrepreneurs is produced, CBZ will invest substantial resources into the programme and is already planning to run the programme again during the second half of 2017 with a completely new crop of young entrepreneurs,” the bank said.
“It is the vision of the partnering organisations to see a significant number of participants’ businesses maturing into strong, sustainable, profitable businesses generating substantial revenues, employing considerable numbers of employees and impacting the economy positively.”
CBZ Holdings said to address historical imbalances, the programme was structured so that female participants would make up at least 51% of all participants at every stage.
With employment prospects for 2017 at the low end, entrepreneurship will be key alternatives.
Speaking at the prize giving ceremony, CBZ Holdings group CEO, Never Nyemudzo said the YEP programme would go a long way in empowering young entrepreneurs.
“More than 1 300 proposals were received and these were progressively streamed to 10 people per province through intensive selection processes and workshops. Ultimately, the 10 best youth entrepreneurs across the provinces were then selected for the finals, hence our gathering here tonight,” said Nyemudzo.
“I have no doubt that despite being unable to make it into the final 10, most of the participants were impacted upon positively by the YEP initiative as they all had the opportunity to network and interact with fellow entrepreneurs and corporate world leaders during the provincial workshops and selection processes.”
This year’s edition kicked off with the facilitation of initial workshops for up to 150 participants per province, leading to selection of the top 10 participants from each province.
The selected 100 participants (10 per province) completed a number of individual and group assignments while also attending regional workshops, culminating in their assessment as well as selection of the top 20 participants countrywide.
The final part of the YEP focused on providing seed capital to the 20 participants, out of which 10 were selected as winners last Thursady. The winners received cash prizes ranging from $600 to $3 000 per person for their businesses at the awards ceremony. A total of $12 000 directly went to the participants to benefit their businesses.
CBZ Holdings was working in partnership with Empowered Life Trust, a non-profit making organisation. The financial institution spent $40 000 countrywide on the YEP programme.